Eagle Rock Energy Partners, L.P. Securities Litigation
On or around 10/21/2016 (Date of order of final judgment)
Filing Date: June 01, 2015
According to the Complaint, on May 21, 2015, Vanguard and the Partnership announced a definitive agreement under which Vanguard, through its wholly owned subsidiary Talon Merger Sub, LLC (“Merger Sub”), will acquire all of the outstanding units of Eagle Rock for 0.185 Vanguard units per Eagle Rock unit (the “Proposed Transaction”). Based on the closing price of Vanguard’s units on May 21, 2015, the implied per unit price that Eagle Rock unitholders will receive is $3.05. Inclusive of debt, the Proposed Transaction is valued at approximately $614 million and is expected to close in the third quarter of 2015. The Complaint alleges the Board has breached its fiduciary duties by agreeing to the Proposed Transaction for inadequate consideration.
The Court ordered this case dismissed with prejudice on October 21, 2016.
Please Log In or Sign Up for a free account to access restricted features of the Clearinghouse website, including the Advanced Search form and the full case pages.
When you sign up, you will have the option to save your search queries performed on the Advanced Search form.