NEW YORK, Oct. 23, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of the limited partnership agreement, fiduciary duty, and other violations of law by the board of directors of CONSOL Coal Resources LP ("CCR" or the "Partnership") (NYSE: CCR) in connection with the proposed interested-party acquisition of the Partnership by CONSOL Energy Inc. ("CEIX"), pursuant to which CEIX will acquire all of the minority units of CCR that it does not already own. Under the terms of the acquisition agreement, CCR unitholders will receive 0.73 shares of CEIX common stock for each CCR unit that they own, representing implied per-share merger consideration of $3.15, based upon CEIX's October 22, 2020 closing price of $4.32.
If you own CCR units and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
In light of the fact that CEIX already controls 60% of CCR's common units, WeissLaw is investigating whether CCR's board was truly independent and fully informed as to the valuation of the proposed acquisition of the Partnership, whether the Board acted in the best interest of CCR's minority unitholders in agreeing to the proposed transaction, and whether all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed to CCR unitholders.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]
SOURCE WeissLaw LLP