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Cleco Corporation (CNL)

(NYSE: CNL)

Summary

CLECO INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of the Board of Directors of Cleco Corporation in Relation to the Proposed Sale of the Company to a Consortium - CNL
 

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 Cleco Corporation (“Cleco” or the “Company”) (NYSE: CNL) for potential breaches of fiduciary duties in connection with the sale of the Company to an investor group led by Macquarie Infrastructure and Real Assets, British Columbia Investment Management Corporation, and John Hancock Financial (the “Consortium”) for approximately $4.7 billion.  The Company’s stockholders will only receive $55.37 for each share of Cleco common stock they own.

The investigation focuses on whether Cleco’s 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 Cleco’s shareholders.

If you own common stock in Cleco and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330. 

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    Cleco Corporation (CNL)
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Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

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Case Details

Date:

  • 10/24/2014

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