WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A.:
- Do you own shares of Copano Energy, L.L.C. (NASDAQ GS: CPNO)?
- Did you purchase any of your shares prior to January 29, 2013?
- Do you think the proposed buyout price is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Copano Energy, L.L.C. (“Copano” or the “Company”) (NASDAQ GS: CPNO) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Kinder Morgan Energy Partners, L.P. (“KMP”) (NYSE: KMP) in a transaction valued at approximately $5 billion, including the assumption of debt.
Click here to learn more: http://www.rigrodskylong.com/investigations/copano-energy-llc-cpno.
Under the terms of the proposal, public shareholders of Copano will receive 0.4563 shares of KMP for each share of Copano they own. Based upon KMP’s closing stock price of $87.61 on January 30, 2013, Copano shareholders would have received consideration valued at approximately $39.97 per share.
The investigation concerns whether Copano’s board of directors failed to adequately shop the Company and obtain the best possible value for Copano’s shareholders before entering into an agreement with KMP. According to Yahoo! Finance, at least one analyst has set a price target for Copano stock at $41.00.
If you own the common stock of Copano and purchased your shares before January 29, 2013, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530 toll free at (888) 969-4242, by e-mail to email@example.com, or at: http://www.rigrodskylong.com/investigations/copano-energy-llc-cpno.
Rigrodsky & 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.
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