LRR Energy LP Lawsuit Details – Vanguard Natural Resources LLC Merger
Gilman Law LLP announced that a complaint on was filed on July 10, 2015 on behalf of shareholders of LRR Energy LP (NASDAQ: LRE) for possible breaches of fiduciary duty in connection with its acquisition by Vanguard Natural Resources.The complaint claims the offer to acquire LRR Energy for $251 million in Vanguard common units is inadequate and does not take into consideration LRR Energy’s current performance and probable growth. The complaint also contends that the Board eliminated negotiations with other potential bidders when it agreed to a “no shop” provision which included a $7.3 million termination fee. The complaint further alleges LRR Energy’s SEC registration statement was inaccurate and that the company agreed to acquire Eagle Rock Energy Partners LLP for $614 million, causing the shareholders to have a smaller percentage of ownership in Vanguard.
We are encouraging shareholders who invested in LRR Energy LP and currently hold any of those shares to contact our office for a free consultation by submitting our free consultation form online or calling our office toll free at (888)-252-0048.
WHAT YOU CAN DO TO RECOVER YOUR LOSSES?
About the Shareholder Rights Law Firm of Gilman Law LLP
The attorneys at Gilman Law have over 35 years of experience in securities class action law suits and have been involved in all major aspects of securities litigation. Our experienced securities attorneys focus on cases involving stock manipulation, securities fraud, investment fraud, shareholder rights violations, and securities arbitration.