Juan E. Monteverde, Partner at Faruqi & Faruqi, LLP is Seeking More Cash for the Shareholders of Pioneer Southwest Energy Partners L.P. (PSE)
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 Pioneer Southwest Energy Partners L.P. (“Pioneer Southwest” or the “Company”) (NYSE: PSE) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Pioneer Natural Resources Company (NYSE: PXD) in a stock for stock deal valued at approximately $1.1 billion. Under the terms of the proposed transaction, Pioneer Southwest’s stockholders will receive 0.2325 shares of Pioneer Natural Resources Company stock for each share of Pioneer Southwest stock they own, which is worth about $39.52 based on August 14, 2013 closing prices.
The investigation focuses on whether Pioneer Southwest’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Pioneer Southwest’s shareholders.
If you own common stock in Pioneer Southwest and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
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