Robbins Arroyo LLP Announces Class Action Lawsuit Against Copano Energy, L.L.C.
March 18, 2013 (San Diego, CA) – Robbins Arroyo LLP announce that the firm commenced a class action lawsuit with Robbins Geller Rudman & Dowd LLP on February 28, 2013, in the U.S. District Court, Southern District of Texas, Houston Division, on behalf of the unitholders of Copano Energy, L.L.C. (“Copano”) (NASDAQ: CPNO) against Copano and its board of directors for, among other things, violations of sections 14(a) and 20(a) of the Securities and Exchange Act of 1934 (the “Exchange Act”) in connection with the proposed acquisition of Copano by Kinder Morgan Energy Partners, L.P. (“Kinder Morgan”).
The complaint arises out of a January 29, 2013 press release announcing that Copano had entered into a definitive merger agreement with Kinder Morgan, pursuant to which Copano unitholders would receive .4563 Kinder Morgan units for each unit of Copano they own (the “Proposed Transaction”).
The complaint alleges that certain of the defendants, in connection with the Proposed Transaction, breached or aided and abetted the other defendants’ breaches of their fiduciary duties of loyalty and due care owed to Copano unitholders. The complaint further alleges that, in an attempt to secure unitholder approval of the Proposed Transaction, the defendants filed a materially false and misleading Registration Statement on Form S-4 with the U.S. Securities and Exchange Commission in violation of sections 14(a) and 20(a) of the Exchange Act. The omitted and/or misrepresented information is believed to be material to Copano unitholders’ ability to make an informed decision whether or not to approve the Proposed Transaction.
The complaint seeks injunctive relief on behalf of the named plaintiff and all other similarly situated unitholders of Copano as of January 29, 2013 (the “Class”). The plaintiff is represented by Robbins Arroyo LLP.
If you wish to serve as lead plaintiff, you must move the Court no later than sixty days from March 18, 2013. To discuss your shareholder rights, please contact attorney Darnell R. Donahue at (800) 350-6003 or you can complete the form below and we will contact you directly. Any member of the Class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent Class member.
Robbins Arroyo LLP represents individual and institutional shareholders in derivative, direct, and class action lawsuits. The law firm’s skilled litigation teams include former federal prosecutors, former defense counsel from top multinational corporate law firms, and career shareholder rights attorneys. Robbins Arroyo LLP has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.