NEW YORK, May 28, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of PetroLogistics LP ("PetroLogistics" or the "Company") (NYSE: PDH) (ISIN: US71672U1016) (CUSIP: 71672U101) concerning the proposed acquisition of PetroLogistics by Koch Industries, Inc. (Koch).
PetroLogistics shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at [email protected] or 212-661-1100 or 888-476-6529, ext. 237.
The investigation concerns whether the PetroLogistics directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Koch's Flint Hills Resources LLC unit will pay $12 a share for the stock held by private-equity firm Lindsay Goldberg LLC, York Capital Management LP, PetroLogistics's chairman and its chief executive officer. The rest of the shares will be purchased for $14 per share in cash for each PetroLogistics share. One analyst has set the target price at $17 per share.
Pomerantz LLP, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz LLP pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz LLP continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
212-661-1100 ext. 237
SOURCE Pomerantz LLP