NEW YORK, Oct. 27, 2016 /PRNewswire/ -- Nadeem Faruqi, founding partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of JP Energy Partners LP ("JP Energy" or the "Company") (NYSE: JPEP) for potential breaches of fiduciary duties in connection with the sale of the Company to American Midstream Partners, LP ("American Midstream") for approximately $312.45 million in an all-stock transaction.
The Company's stockholders will only receive 0.5775 of American Midstream stock for each share of Company common stock they own, or approximately $8.40 per share based on American Midstream's closing price on October 26, 2016. However, this consideration is below at least one analyst's price target of $10.75 per share and JP Energy's 52-week high of $10.08 per share.
Click here for more information: www.faruqilaw.com/JPEP. There is no cost or obligation to you.
The investigation focuses on whether JP Energy's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of JP Energy's shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
Faruqi & Faruqi, LLP is working together in this investigation with Juan E. Monteverde from Monteverde & Associates PC.
If you own common stock in JP Energy and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/JPEP or contact Nadeem Faruqi, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330. You may also contact Juan E. Monteverde, Esq. either via email at email@example.com or by telephone at (212) 971-1341.
Faruqi & Faruqi, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Nadeem Faruqi, Esq.
Toll Free: (877) 247-4292
Phone: (212) 983-9330
Attorney Advertising. (C) 2016 Faruqi & Faruqi, LLP. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We are happy to discuss your particular case.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/jp-energy-shareholder-notice-faruqi--faruqi-llp-announces-the-investigation-of-jp-energy-partners-lp-jpep-over-the-proposed-sale-of-the-company-to-american-midstream-partners-lp-300352994.html
SOURCE Faruqi & Faruqi, LLP