STEVENSON, Md.--(EON: Enhanced Online News)--The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Energy Transfer Partners, L.P. (NYSE: ETP) (“Energy Transfer” or the “Company”) relating to the proposed buyout of Energy Transfer by Sunoco Logistics Partners L.P.
Under the terms of the agreement, Energy Transfer unitholders will receive 1.5 common units of Sunoco Logistics for each common unit of Energy Transfer with an equivalent value of $39.29, which is lower than, according to Yahoo! Finance, at least one Wall Street analyst’s estimated price target of $55.00 per share.
The firm’s investigation seeks to determine, among other things, whether the Company’s Board of Directors failed to satisfy their duties to shareholders, including whether the Board adequately pursued alternatives to the acquisition and whether the Board obtained the best price possible for the Company’s shares of common stock.
If you currently own common stock of Energy Transfer and believe that the proposed buyout price is too low, and you would like to learn more about the investigation being conducted by Brower Piven, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at email@example.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.