Lundy Law Commences An Investigation Into The Proposed Acquisition Of LRR Energy, L.P.
Lundy Law is investigating potential claims against the Board of Directors of LRR Energy, L.P. (“LRR” or the “Company”) (NYSE: LRE) for possible breaches of fiduciary duty and other violations of law in connection with the proposed sale of the Company to Vanguard Natural Resources, LLC (“Vanguard”). Under the terms of the proposed transaction, LRR unitholders are anticipated to receive 0.55 of a unit of Vanguard for each unit of LRR owned. Based on Vanguard’s closing price on April 20, 2015, LRR unitholders would receive compensation valued at approximately $8.93 per unit.
Among other things, the investigation concerns whether the Board of Directors of LRR is achieving the best possible value for the Company’s unitholders and whether the Board sufficiently pursued alternatives to the proposed acquisition. Recently, one analyst has set a price target on LRR stock of $16.00 per unit.
If you own LRR units and wish to discuss the legal ramifications of the investigation, or have any questions, contact Lundy Law who will, without obligation or cost to you, answer your questions. For more information you may contact David Promisloff, co-counsel to Lundy Law directly at 1-800-LundyLaw.
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