BALA CYNWYD, Pa., Oct. 24, 2013 /PR Newswire/ –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of PAA Natural Gas Storage, L.P. ("PNG" or the "Company") (NYSE- PNG-News) relating to the proposed acquisition by Plains All American Pipeline, L.P. ("Plains").
Click here to learn more about the investigation http://brodsky-smith.com/664-png-paa-natural-gas-storage-lp.html, or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, PNG Common unitholders will receive only 0.445 common units of Plains, plus cash in lieu of any fractional common units of Plains otherwise issuable, for each common unit of PNG they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of PNG for not acting in the Company's unitholders' best interests in connection with the sale process. The investigation seeks to determine if the PNG Board of Directors failed to conduct an adequate auction process and as a result harmed PNG unitholders by undervaluing their Company. The transaction represents very little or no premium above the $23.43 PNG common units traded at on September 26, 2013.
If you own common units of PNG and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at investorrelations@brodsky-smith.com, by visiting http://brodsky-smith.com/664-png-paa-natural-gas-storage-lp.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE Brodsky & Smith, LLC
