Pioneer Southwest Energy Partners Proposed Buyout Investigated by the Securities Attorneys at The Br
May 8th 2013 3:35PM
Updated May 8th 2013 4:25PM
Pioneer Southwest Energy Partners Proposed Buyout Investigated by the Securities Attorneys at The Briscoe Law Firm and Powers Taylor, LLP
DALLAS--(BUSINESS WIRE)-- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of Pioneer Southwest Energy Partners, L.P. ("Pioneer Southwest") (NYS: PSE) related to a buyout proposal received from Pioneer Natural Resources Company. Under the terms of the proposal (valued at approximately $1.1 billion), Pioneer Natural would acquire all outstanding publicly held shares of Pioneer Southwest's common stock for 0.2234 shares of Pioneer Natural (or approximately $30.63) for each share of Pioneer Southwest owned. Pioneer Natural owns 100% of the general partner of Pioneer Southwest and 52.4% of the outstanding common units of pioneer Southwest.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, please contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, via email at WBriscoe@TheBriscoeLawFirm.com or Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org. There is no cost or fee to you.
According to shareholder rights attorney Willie Briscoe, "The investigation relates to the fairness of the proposed transaction to Pioneer Southwest's shareholders and whether the Board of Directors is adequately shopping the company in order to obtain the best possible price for the shareholders. The firms are actively investigating possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Pioneer Southwest in connection with the potential approval of this transaction, and whether Pioneer Southwest's Board of Directors is acting in the shareholders' best interests."
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
KEYWORDS: United States North America Texas
The article Pioneer Southwest Energy Partners Proposed Buyout Investigated by the Securities Attorneys at The Briscoe Law Firm and Powers Taylor, LLP originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.