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WEISSLAW LLP: Buckeye Partners, L.P. Acquisition May Not Be In The Best Interests of BPL Shareholders

NEW YORK, May 15, 2019 /PRNewswire/ -- WeissLaw LLP  is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Buckeye Partners, L.P. ("Buckeye Partners" or the "Company") (BPL) in connection with the proposed acquisition of the Company by asset manager IFM Investors ("IFM").  Under the terms of the acquisition agreement, unitholders would receive a mere $41.50 for each BPL common unit they own.  

If you own BPL shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please contact:

Joshua Rubin
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY  10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com

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WeissLaw LLP (PRNewsfoto/WeissLaw LLP)

WeissLaw is investigating whether Buckeye Partners' Board acted to maximize unitholder value prior to entering into the agreement by shopping for a superior proposal, and whether IFM's offer impairs BPL unitholder value.

WeissLaw is investigating whether the deal aligns with the interests of BPL unitholders.  Specifically, WeissLaw is concerned whether Buckeye Partners' Board conducted a fair process for agreeing to the proposed acquisition, whether the proposed acquisition undervalues the Company, and whether all material information related to the proposed acquisition is fully and fairly disclosed.  Specifically, WeissLaw is concerned that the proposed sale undervalues the Company. 

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com.

 

Cision

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