NEW YORK, July 28, 2022 /PRNewswire/ — Weiss Law is investigating possible breaches of the implied covenant of good faith and fair dealing and other violations of law by the board of directors of PBF Logistics LP (“PBF Logistics” or the “Company”) (NYSE: PBFX) in connection with the proposed acquisition of the Company by PBF Energy Inc. (“PBF Energy”) (NYSE: PBF). Under the terms of the merger agreement, each outstanding common unit of PBF Logistics that PBF Energy does not own will be converted into 0.270 shares of PBF Energy Class A common stock and $9.25 in cash, without interest. Currently, PBF Energy owns approximately 47.7% of the outstanding common units of PBF Logistics.
If you own PBF Logistics LP shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Weiss Law is investigating whether (i) PBF Logistics’ board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the share merger consideration adequately compensates PBF Logistics’ shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.
Weiss Law has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com
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