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The Law Office of Abe Shainberg Announces Investigation of Southern Union Company

^{Published on 2011-06-20 08:55:36 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--The Law Office of Abe Shainberg is investigating the Board of Directors of Southern Union Company (NYSE: SUG) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Energy Transfer Equity, L.P. Under the terms of the proposed transaction, Southern Unionshareholders will exchange their common shares for newly issued Series B units at a value of $33 a share, or $4.2 billion. Energy Transfer Equity will also assume $3.7 billion in Southern Union debt.

The investigation concerns whether the Southern Union Board of Directors breached their fiduciary duties to Southern Union stockholders by failing to adequately shop the Company before entering into this transaction and whether Energy Transfer Equity is underpaying for Southern Union shares, thus unlawfully harming Southern Union stockholders. According to Yahoo! Finance, at least one analyst set a target price for Southern Union stock at $34.00 per share.

If you own common stock in Southern Union and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at [ as@ashainberglaw.com ] or by telephone at (212) 425-7286, or visit [ http://www.ashainberglaw.com/southern-union-sug.html ].

Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.