Penn Virginia Investor Seeks To Block $954M Deal

Law360, New York (September 29, 2010, 6:46 PM EDT) -- A Penn Virginia GP Holdings LP unit-holder has filed a putative class action seeking to prevent Penn Virginia Resource Partners LP from acquiring the company in a $954 million deal.

James Rooney filed his complaint Wednesday in the Delaware Chancery Court alleging the officers and directors of PVG breached their fiduciary duties to their investors.

On Sept. 21, PVG and PVR issued a joint press release announcing they had reached a definitive agreement for PVR to acquire PVG for about $954 million, according to the complaint....
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