BALA CYNWYD, PA / ACCESSWIRE / May 10, 2019 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Buckeye Partners, L.P. ("Buckeye" or "the Company") (NYSE:BPL News) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to IFM Investors ("IFM").
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Under the terms of the transaction, Buckeye unitholders will receive only $41.50 in cash for each unit of Buckeye they own. The investigation concerns whether the Board of Buckeye breached their fiduciary duties to unitholders and whether IFM is underpaying for the Company. The transaction may undervalue the Company and would result in a loss for many long-term Buckeye unitholders. For example, Buckeye units have traded at $81.58 per unit.
If you own units of Buckeye and wish to discuss the legal ramifications of the investigation, 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 510, Bala Cynwyd, PA 19004, by visiting http://www.brodskysmith.com/cases/buckeye-partners-l-p-nyse-bpl/, 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 class 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 have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC
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