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TMCNet:  SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Files A Class Action Lawsuit Against The Board Of Directors Of Eagle Rock Energy Partners, L.P.

[April 02, 2014]

SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Files A Class Action Lawsuit Against The Board Of Directors Of Eagle Rock Energy Partners, L.P.

WILMINGTON, Del. --(Business Wire)--

Rigrodsky & Long, P.A. announces it has filed a class action lawsuit in the United States District Court for the Southern District of Texas alleging breaches of fiduciary duty and other violations of law against the board of directors of Eagle Rock Energy Partners, L.P. ("Eagle Rock" or the "Company") (NASDAQ GS: EROC) in connection with the Company's entry into an agreement to sell its midstream business to Regency Energy Partners LP ("Regency") (NYSE: RGP), in a transaction valued at approximately $1.3 billion.

Click here to learn more: http://www.rigrodskylong.com/news/eagle-rock-energy-partners-l-p-eroc.


Under the terms of the agreement, Regency is exchanging $550 million of Eagle Rock debt (in the form of outstanding senior unsecured notes) for an equivalent amount of Regency senior unsecured notes. Eagle Rock will also receive $200 million of newly-issued common units and approximately $520 million in cash from Regency.

The complaint alleges that Eagle Rock's board of directors failed to adequately shop the Company and obtain the best possible value for Eagle Rock's unitholders before entering into an agreement with Regency.

If you own units of Eagle Rock and would like to learn more about these allegations, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, Delaware 19803, by telephone at (888) 969-4242; by e-mail to info@rl-legal.com, or at: http://www.rigrodskylong.com/newss/eagle-rock-energy-partners-l-p-eroc.

If you wish to serve as lead plaintiff, you must move the Court no later than May 20, 2014. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.

Attorney advertising. Prior results do not guarantee a similar outcome.


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