Pioneer Southwest Energy Partners L.P Merger Litigation (NYSE: PSE)
SHAREHOLDER ALERT: Law Office of Brodsky & Smith, LLC Announces Investigation of Pioneer Southwest Energy Partners L.P. - PSE
BALA CYNWYD, May 7, 2013 /PRNewswire/ –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Pioneer Southwest Energy Partners L.P. (“Pioneer Southwest” or the “Company”) (NYSE- PSE-News) relating to the proposed acquisition by Pioneer Natural Resources Company (“Pioneer Natural”).
Under the terms of the offer, Pioneer Southwest shareholders will receive only 0.2234 shares of Pioneer Natural for each common unit of Pioneer Southwest they own. The offer values each common unit of Pioneer Southwest at approximately $30.78. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Pioneer Southwest for not acting in the Company’s shareholders' best interests in connection with the sale process. The offer may undervalue the Company as Pioneer Southwest stock traded at $32.20 per share as recently as May 7, 2013 and traded at $32.66 per share on July 21, 2011. In addition, Pioneer Natural currently owns 52.4% of Pioneer Southwest outstanding publicly traded common units and is the sole owner of the Company’s general partner.
If you own shares of Pioneer Southwest common units and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at email@example.com by calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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