BALA CYNWYD, PA / ACCESSWIRE / June 19, 2017 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Rice Energy Inc. ("Rice" or "the Company") (NYSE: RICE - News) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to EQT Corporation. ("EQT").
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Under the terms of the transaction, Rice shareholders will receive only 0.37 of a share of EQT common stock and $5.30 in cash for each share of Rice stock they own. The transaction values Rice at only approximately $27.04 per share. The investigation concerns whether the Board of Rice breached their fiduciary duties to shareholders and whether EQT is underpaying for the Company. The transaction may undervalue the Company and would result in a either a loss or no real gain for many long-term holders of Rice stock. For example, shares of Rice stock traded at $33.05 per share on June 2, 2014 and $27.38 per share on October 3, 2016. In addition, an analyst has set a price target for Rice stock at $40.00 per share.
If you own shares of Rice stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://www.brodskysmith.com/cases/rice-energy-inc-nyse-rice/, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC