SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

December 20, 2013 13:19 ET

INVESTOR ALERT: Levi & Korsinsky, LLP Notifies Investors of Claims of Breaches of Fiduciary Duty by Board of PAA Natural Gas Storage, L.P. in Connection With Sale of Company to Plains All American Pipeline, L.P.

NEW YORK, NY--(Marketwired - Dec 20, 2013) - Levi & Korsinsky notifies investors of PAA Natural Gas Storage, L.P. ("PNG" or the "Company") (NYSE: PNG) of claims of breaches of fiduciary duty and other violations of state law against the board of directors of the Company in connection with the sale of the Company to a Plains All American Pipeline, L.P. ("PAAP") (NYSE: PAA). A complaint was filed in Delaware state court.

Click here to learn more about the case http://zlk.9nl.com/paa-natural-gas-png/, or call: 877-363-5972. There is no cost or obligation to you.

Under the terms of the transaction, PNG shareholders will receive 0.445 common units of PAAP for each unit of PNG stock surrendered, plus cash in lieu of any fractional common units of PAAP otherwise issuable in the merger. PAAP already owns 100% of the outstanding subordinated units of PNG and approximately 46% of PNG's outstanding common units. The claims concern whether the PNG Board of Directors breached their fiduciary duties to stockholders by failing to maximize shareholder value.

If you own PNG common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/paa-natural-gas-png/

Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT:
    Levi & Korsinsky, LLP
    Joseph Levi, Esq.
    Eduard Korsinsky, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com