Rigrodsky & Long, P.A. Announces Investigation Of Pioneer Southwest Energy Partners L.P. Proposed Buyout
WILMINGTON, Del.--(BUSINESS WIRE)-- Rigrodsky & Long, P.A.:
- Do you own shares of Pioneer Southwest Energy Partners L.P. (NYSE: PSE )?
- Did you purchase any of your shares prior to May 7, 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 Pioneer Southwest Energy Partners L.P. (“Pioneer Southwest” or the “Company”) (NYSE: PSE) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s receipt of a proposal to be acquired by Pioneer Natural Resources Company (“Pioneer”) (NYSE: PXD) in a transaction valued at approximately $1.1 billion.
Click here to learn more: http://www.rigrodskylong.com/investigations/pioneer-southwest-energy-partners-lp-pse.
Under the terms of the proposal, public shareholders of Pioneer Southwest will receive 0.2234 shares of Pioneer for each share of Pioneer Southwest they own. Based upon Pioneer’s closing stock price of $137.79 on May 7, 2013, Pioneer Southwest shareholders would have received consideration valued at approximately $30.78 per share.
The investigation concerns the Company’s board of directors’ process for consideration of the proposed transaction, whether Pioneer Southwest is acting in its shareholders’ best interests and whether the proposed consideration to be paid to Pioneer Southwest’s shareholders would be fair and adequate.
If you own the common stock of Pioneer Southwest and purchased your shares before May 7, 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 Seth Rigrodsky or Olga Pettigrew at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by telephone at (888) 969-4242; by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/pioneer-southwest-energy-partners-lp-pse.
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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