TPC Group Inc. Shareholder Alert: Bernstein Liebhard LLP Announces Investigation of Merger Agreement with First Reserve Corporation and SK Capital Partners
August 27, 2012
Bernstein Liebhard LLP is investigating whether the Board of Directors of TPC Group Inc. (“TPC Group” or the “Company”) (NASDAQ: TPCG) breached its fiduciary duty to its shareholders by entering into a definitive merger agreement with investment funds sponsored by First Reserve Corporation and SK Capital Partners to take the Company private.
Under the terms of the agreement, TPC Group shareholders will receive $40.00 in cash for each share they own. The investigation is focused on the potential unfairness of the price to TPC Group shareholders and the process by which the TPC Group Board of Directors considered and approved the transaction.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last nine years.