BALA CYNWYD, Pa., Aug. 4, 2012 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Blackwater Midstream Corporation ("Blackwater" or the "Company") (OTCQB- BWMS-News) relating to the proposed acquisition by an affiliate of ArcLight Capital Partners ("ArcLight").
Under the terms of the transaction, Blackwater shareholders will receive only $0.64 in cash for each of Blackwater stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Blackwater for not acting in the Company's shareholders' best interests in connection with the sale process to ArcLight. The Board of Directors may have failed to adequately shop the Company and may have undervalued Blackwater resulting in harm to the Blackwater shareholders.
If you own shares of Blackwater stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at [email protected] visiting http://brodsky-smith.com/462-bwms-blackwater-midstream-corporation.html, or by calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC