A lawsuit was filed for investors in shares of Columbia Pipeline Group Inc (NYSE:CPGX) in connection with the proposed takeover and NYSE:CPGX stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/10/2018 -- The Shareholders Foundation announces that an investor in shares of Columbia Pipeline Group Inc (NYSE:CPGX) filed a lawsuit against the acquisition of Columbia Pipeline Group Inc by TransCanada Corporation for $25.50 per share.
Investors who purchased shares of Columbia Pipeline Group Inc (NYSE:CPGX) and currently hold any of those NYSE:CPGX shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
On March 17, 2016, Columbia Pipeline Group, Inc. (NYSE: CPGX) announced that it has entered into an agreement to be acquired by TransCanada Corporation for $25.50 per share in cash.
The plaintiff alleges that Columbia Pipeline failed to disclose material information in its Proxy statement related to the then-proposed merger of Columbia Pipeline with TransCanada. In particular, it is alleged that the Proxy failed to disclose that Columbia Pipeline and its executive officers: (1) conspired to engineer the Spinoff from NiSource, and ultimate sale of the Company to TransCanada, as part of a plan to cash in on change-in-control benefits; (2) concealed TransCanada's prior expressions of interest to purchase the Pre-Spinoff Entities directly from NiSource; (3) excluded prospective buyers from bidding, thereby preferencing TransCanada to the detriment of Columbia Pipeline shareholders; (4) negotiated standstill agreements, and waivers therefrom, with various prospective buyers to rush to consummate the Merger with TransCanada, thereby triggering the change-in-control benefits; and (5) did not negotiate to maximize the value of Columbia Pipeline shares in the Merger.
Those who are current investors in Columbia Pipeline Group Inc (NYSE:CPGX) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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