NEW YORK--(BUSINESS WIRE)--The Law Offices of Vincent Wong are investigating the Board of Directors of Southern Union Co. (NYSE: SUG) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Energy Transfer Equity, L.P. Under the terms of the proposed deal, Southern Union shareholders will exchange their common shares for newly issued Series B units at a value of $33 a share, or $4.2 billion. Energy Transfer Equity will also assume $3.7 billion in Southern Union debt.
The investigation concerns whether the Southern Union Board of Directors breached their fiduciary duties to Southern Union stockholders by failing to adequately shop the Company before entering into this transaction and whether Energy Transfer Equity is underpaying for Southern Union shares. According to Thomson/First Call, at least one analyst set a target price for Southern Union stock at $34.00 per share.
If you own common stock in Southern Union and wish to obtain additional information, please contact Vincent Wong, Esq. either via email firstname.lastname@example.org, by telephone at 212.584.2740, or visit http://www.wongesq.com/southern-union.html.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.