INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of PetroLogistics LP (PDH) Over the Proposed Sale of the Company to Koch Industries Inc.
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 PetroLogistics LP (“PetroLogistics” or the “Company”) (NYSE: PDH) for potential breaches of fiduciary duties in connection with the sale of the Company to Koch Industries for approximately $2.1 billion. Koch’s Flint Hills Resources LLC unit will pay $12 a share for the stock held by private-equity firm Lindsay Goldberg LLC, York Capital Management, PetroLogistics’s chairman and its chief executive officer. The rest of the shares will be purchased for $14 each.
The investigation focuses on whether the PetroLogistics Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of PetroLogistics shareholders.
If you own common stock in PetroLogistics and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
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Tel: (212) 983-9330
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