| SHAREHOLDER ALERT: Pomerantz LLP Investigates Claims That the Merger May Not Be in the Best Interest of Investors of Piedmont Natural Gas Co. Inc. - PNY | |
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NEW YORK, Oct. 26, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Piedmont Natural Gas Co. Inc. ("Piedmont" or the "Company") (PNY) (ISIN:US7201861058) (CUSIP:720186105) concerning the proposed acquisition of Piedmont by Duke Energy Corporation. Piedmont shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at rswilloughby@pomlaw.com or 212-661-1100 or 888-476-6529, ext. 9980. The investigation concerns whether the Piedmont directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the proposed transaction, Piedmont shareholders will receive $60.00 per share in cash for each share of Piedmont common stock. However, there are indications that management may stay on. Moreover, the EBITDA, and EBIT multiples are below the averages of comparable transactions, according to a Bloomberg analysis. Pomerantz LLP, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz LLP pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz LLP continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com. CONTACT:Robert Willoughby Pomerantz LLP 212-661-1100 ext. 9980 rswilloughby@pomlaw.com To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-llp-investigates-claims-that-the-merger-may-not-be-in-the-best-interest-of-investors-of-piedmont-natural-gas-co-inc---pny-300166017.html
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Piedmont Natural Gas
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CODE : PNY |
ISIN : US7201861058 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Piedmont is based in United states of america. Piedmont is listed in United States of America. Its market capitalisation is US$ 55.2 billions as of today (€ 48.9 billions). Its stock quote reached its lowest recent point on October 06, 1995 at US$ 10.00, and its highest recent level on May 13, 2016 at US$ 59.95. Piedmont has 921 580 032 shares outstanding. |