The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Business Wire

Faruqi & Faruqi, LLP Announces Investigation of CVR Energy Inc.

Friday, February 17, 2012

Faruqi & Faruqi, LLP Announces Investigation of CVR Energy Inc.10:14 EST Friday, February 17, 2012 NEW YORK (Business Wire) -- Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of CVR Energy Inc. (“CVR” or the “Company”) (NYSE: CVI) for potential breaches of fiduciary duties in connection with their conduct related to the Company's receipt of an unsolicited offer made by Carl C. Icahn through one or more of his affiliated companies to purchase all of the outstanding shares of the Company in a deal valued at about $2.6 billion. Under the terms of the proposed transaction, tendering shareholders will receive $30 per share in cash, plus a Contingent Value Right. The Contingent Value Right will entitle stockholders to an additional payment, in cash, equal to the value that CVR is sold for in excess of $30 per share. According to Yahoo! Finance, at least one financial analyst has set a price target of $35 for CVR. The proposed transaction is structured as a tender offer and may be effectuated without a shareholder vote. Request more information now by clicking here: Whether CVR's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues CVR's shares and by how much this proposed transaction undervalues the Company to the detriment of CVR's shareholders are the key focus of this investigation. Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. If you own common stock in CVR's and wish to obtain additional information, please visit us at or contact Juan E. Monteverde, Esq. either via e-mail at or by telephone at (877) 247-4292 or (212) 983-9330. Attorney Advertising. (C) 2012 Faruqi & Faruqi, LLP. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( Prior results do not guarantee or predict a similar outcome with respect to any future matter. We are happy to discuss your particular case. Faruqi & Faruqi, LLP369 Lexington Avenue, 10th FloorNew York, NY 10017Attn: Juan E. Monteverde, Esq.jmonteverde@faruqilaw.comToll Free: 877-247-4292Phone: 212-983-9330