Energy News / Shareholders Foundation, Inc.

NYSE:CPGX Shareholder Alert: Lawsuit Filed Against the Takeover of Columbia Pipeline Group Inc

Via: ReleaseWire

Updated 10:52 AM CDT, Thu, May 10,2018

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 mail@shareholdersfoundation.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.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/nysecpgx-shareholder-alert-lawsuit-filed-against-the-takeover-of-columbia-pipeline-group-inc-975789.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com