& Long, P.A. announces a complaint alleging breaches of
fiduciary duty and other violations of law has been filed in the United
States District Court for the Southern District of Texas against the
board of directors of Eagle Rock Energy Partners, L.P. ("Eagle Rock" or
the "Company") (NASDAQ GS: EROC)
in connection with the Company's entry into an agreement to sell its
midstream business to Regency Energy Partners LP ("Regency") (NYSE: RGP),
in a transaction valued at approximately $1.3 billion.
Click here to learn more: http://www.rigrodskylong.com/investigations/eagle-rock-energy-partners-l-p-eroc.
Under the terms of the agreement, Regency is exchanging $550 million of
Eagle Rock debt (in the form of outstanding senior unsecured notes) for
an equivalent amount of Regency senior unsecured notes. Eagle Rock will
also receive $200 million of newly-issued common units and approximately
$520 million in cash from Regency.
The complaint alleges that Eagle Rock's board of directors failed to
adequately shop the Company and obtain the best possible value for Eagle
Rock's unitholders before entering into an agreement with Regency.
If you own the common stock of Eagle Rock and purchased your shares
before December 23, 2013, and would like to learn more about these
allegations, please contact Seth D. Rigrodsky or Gina M. Serra at
Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington,
Delaware 19803, by telephone at (888) 969-4242; by e-mail to firstname.lastname@example.org,
or at: http://www.rigrodskylong.com/investigations/eagle-rock-energy-partners-l-p-eroc.
& Long, P.A., with offices in Wilmington, Delaware and Garden
City, New York, regularly prosecutes securities
class, derivative and direct actions, shareholder rights litigation and
corporate governance litigation, on behalf of shareholders in states
and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
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