SHAREHOLDER ALERT: Brower Piven Launches An Investigation Into The Proposed Sale Of Oiltanking Partners, L.P. And Encourages ...
25 November 2014 - 9:28AM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Oiltanking Partners, L.P.
(“Oiltanking” or the “Company”) (NYSE: OILT) relating to the
proposed buyout of the Company by Enterprise Products Partners L.P.
(“Enterprise”).
On November 12, 2014, Oiltanking and Enterprise announced the
signing of a merger agreement pursuant to which Enterprise will
acquire Oiltanking in an all stock transaction. Under the terms of
the transaction, Oiltanking unitholders will receive 1.3 Enterprise
units for each Oiltanking common unit they own. The transaction is
expected to close in early 2015, though Oiltanking shareholders
will most likely be asked to vote on the transaction well before
that time.
The firm’s investigation seeks to determine, among other things,
whether the Board of Directors of Oiltanking failed to satisfy
their duties to the Company’s shareholders, including whether the
board adequately pursued alternatives to the acquisition and
whether the Board obtained the best price possible for the
Company.
If you currently own Oiltanking units and would like to learn
more about the investigation being conducted by Brower Piven,
without cost or obligation to you, please visit our website at
http://www.browerpiven.com/currentinvestigations.html. You may also
request more information by contacting Brower Piven either by email
at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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