NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of individuals who beneficially held Vanguard Natural Resources, LLC (NASDAQ:VNR) 7.875% Senior Notes due 2020 (“2020 Notes”) from February 10, 2016 to the present. The lawsuit seeks to recover damages for Vanguard Natural Resources investors.
To join the of Vanguard Natural Resources class action, go to the firm’s website at http://www.rosenlegal.com/cases-873.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for more information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
The lawsuit alleges that Vanguard administrators knew the proposed private debt exchange announced on January 8, 2016 (the “Exchange Offer”) would negatively impact the liquidity, marketability, and market price of the 2020 Notes, and concealed this information from the class members. Vanguard officials benefited from the Exchange Offer at the expense of the class members, whose 2020 Notes dropped in value. Vanguard allegedly violated the implied covenant of good faith and fair dealing in pursuing the Exchange Offer. The obligations in the 2020 Notes were made secondary to the obligations in the 2023 Notes, weakening class members’ right to receive payment of the principal and interest under the 2020 Notes and the right to sue to compel such payment.
A class action lawsuit has already been filed. If you wish to join the litigation, go to the firm’s website http://www.rosenlegal.com/cases-873.html for more information. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
