PAA Natural Gas Storage Shareholder Alert: Former United States SEC Attorney Willie Briscoe and Powe
Aug 30th 2013 11:49AM
Updated Aug 30th 2013 11:50AM
PAA Natural Gas Storage Shareholder Alert: Former United States SEC Attorney Willie Briscoe and Powers Taylor Investigate Proposed Sale
DALLAS--(BUSINESS WIRE)-- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of PAA Natural Gas Storage, L.P. ("PNG") (NYS: PNG) to Plains All American Pipeline, L.P. ("Plains All American") for shareholders. Under the terms of the proposed sale valued at approximately $750 million, PNG shareholders are expected to receive 0.435 shares of Plains All American stock for each share of PNG owned. Based upon Plains All American's closing price the day before the announcement, PNG shareholders will only receive consideration of approximately $22.14 per share, well below the 52-week high of $23.10.
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 or via e-mail at firstname.lastname@example.org. There is no cost or fee to you.
The PNG sale investigation centers on whether shareholders are receiving adequate compensation for their shares in the proposed deal, whether the transaction properly values PNG stock, and whether PNG's board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal.
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
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