Bernstein Liebhard LLP Announces Investigation into the Proposed Sale of Arc Logistics Partners LP
October 9, 2017
Bernstein Liebhard LLP is investigating whether the Board of Directors of Arc Logistics Partners LP (“Arc” or the “Company”) (NYSE: ARCX) is breaching its fiduciary duties to its unitholders by agreeing to sell the Company to Zenith Energy U.S., L.P. Under the terms of the acquisition agreement, Arc’s unitholders will receive $16.50 in cash for each Arc unit they own (the “Acquisition”).
The investigation is focused on the potential unfairness of the consideration offered to Arc unitholders and the process by which the Arc Board of Directors considered and approved the Acquisition.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer, and shareholder rights cases and recovered over $3.5 billion for its clients. The Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times.