STEVENSON, Md., May 28, 2015 /PRNewswire/ -- The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Eagle Rock Energy Partners, L.P. ("Eagle Rock" or the "Company") (NasdaqGS : EROC ) relating to the proposed buyout of the Company by Vanguard Natural Resources for approximately $474 million.
Under the terms of the transaction, Eagle Rock shareholders are anticipated to receive 0.185 units of Vanguard for each unit of Eagle Rock they own, the value of which is equivalent to $3.05 per Eagle Rock share. The transaction may undervalue Eagle Rock and may result in a substantial loss for many shareholders as Eagle Rock has traded as high as $5.25 over the past calendar year. The firm's investigation seeks to determine, among other things, whether the Company's Board of Directors failed to satisfy their duties to shareholders, including whether the Board adequately pursued alternatives to the acquisition and whether the Board obtained the best price possible for the Company's shares of common stock.
If you currently own common stock of Eagle Rock and believe that the proposed buyout price is too low, or you would like to learn more about the investigation being conducted by Brower Piven, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at email@example.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.
Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616 / firstname.lastname@example.org
SOURCE Brower Piven, A Professional Corporation