ATLAS INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Atlas Pipeline Partners, L.P. (APL) and Atlas Energy, L.P. (ATLS) Over the Proposed Sale of the Companies to Targa Resources (NGLS)
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.
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.
If you own units in Atlas Pipeline or Atlas Energy 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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