NEW YORK--(BUSINESS WIRE)--Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Atlas Pipeline Partners, L.P. (“Atlas Pipeline”) (NYSE:APL) and Atlas Energy, L.P. (“Atlas Energy”) (NYSE:ATLS) for potential breaches of fiduciary duties in connection with the sale of the companies to Targa Resources for approximately $7.7 billion. Atlas Pipeline unitholders will only receive 0.5846 units of Targa Resources and a one-time cash payment of $1.26 for each unit of Atlas Pipeline they own. Atlas Energy unitholders will only receive $9.12 in cash, 0.1809 of a share of Targa Resources, and a pro-rata share in Atlas Energy’s distributed non-midstream assets for each unit they own.
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The investigation focuses on whether Atlas Board of Directors breached their fiduciary duties to the unitholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the companies to the detriment of the unitholders.
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If you own units in Atlas Pipeline or Atlas Energy and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/APL or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.
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