Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of Inergy Holdings
Levi & Korsinsky is investigating the Board of Directors of Inergy Holdings L.P. (“NRGP” or the “Company”) (NYSE: NRGP) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Inergy L.P. ("NRGY") (NYSE: NRGY).
[USPRwire, Tue Aug 10 2010] Under the terms of the transaction, NRGP unitholders will receive 0.77 common units of NRGY for each NRGP common unit they own. Based on the prior closing price of NRGY units, the transaction values NRGP units at approximately $33.39 per share for a total transaction value of approximately $2.1 billion.
The investigation concerns whether the NRGP Board of Directors breached their fiduciary duties to NRGP unitholders by failing to adequately shop the Company before entering into this transaction and whether NRGY is underpaying for NRGP units, thus unlawfully harming NRGP unitholders. In particular, the offer price is only a small premium over the $32.16 price the NRGP units traded at as recently as August 6, 2010 and at least one analyst set a price target for NRGP at $35.00 per unit.
If you own common stock in NRGP and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500 or visit http://www.zlk.com/inergy-holdings-nrgp.html.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.
CONTACT: Levi & Korsinsky, LLP, Joseph Levi, Esq., Eduard Korsinsky, Esq., 30 Broad Street - 15th Floor, New York, NY 10004Tel: (212) 363-7500, Fax: (212) 363-7171, www.zlk.com
Levi & Korsinsky, LLP
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