Press release from Business Wire
Law Firm Brower Piven Announces Investigation of Offer to Purchase CVR Energy, Inc.
Friday, February 17, 2012
Law Firm Brower Piven Announces Investigation of Offer to Purchase CVR Energy, Inc.10:32 EST Friday, February 17, 2012 STEVENSON, Md. (Business Wire) -- The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of CVR Energy, Inc. (“CVR Energy”) (NYSE: CVI) and other violations of state law by the board of directors of CVR Energy (“Board”) relating to Carl Icahn's announced tender offer for CVR Energy. On February 16, 2012, Mr. Icahn announced a tender offer for all of the outstanding shares of common stock, and related stock purchase rights, of CVR Energy. According to Mr. Icahn's press release, tendering shareholders will be paid $30 per share in cash, plus a Contingent Value Right that will entitle holders to an additional payment, in cash, equal to the value that the Company is sold for in excess of $30 per share. The firm's investigation seeks to determine, among other things, whether the Board of CVR Energy breached its fiduciary duties by adopting a poison pill takeover defense that would impede such a sale. On February 16, 2012, the Wall Street Journal reported the Board adopted the poison pill immediately after Mr. Icahn took a stake in CVR Energy. If you currently own shares of CVR Energy and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at email@example.com, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years. Brower Piven, A Professional CorporationStevenson, MarylandCharles J. Piven, firstname.lastname@example.org