NEW YORK, July 28, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, has opened an investigation into whether the officers or directors of PBF Logistics LP PBFX (“PBF Logistics”) in connection with PBF Energy Inc.’s acquisition of the Company violated its fiduciary duties or the federal securities laws. PBF (“PBF Energy”).
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On July 28, 2022, PBF Logistics announced that it had reached an agreement to be acquired by PBF Energy in a cash and stock deal. Pursuant to the Merger Agreement, each outstanding common unit of PBF Logistics that PBF Energy does not already beneficially own will be converted, without interest, into 0.270 Class A PBF Energy common shares and $9.25 in cash. The deal is expected to close in the fourth quarter of 2022.
Bragar Eagel & Squire is concerned that PBF Logistics’ board oversaw an unfair process and ultimately approved an improper merger agreement. Accordingly, the company is examining all relevant aspects of the transaction and aims to achieve the best possible result for the shareholders of PBF Logistics.
If you own stock of PBF Logistics and are concerned about the proposed merger or would like to learn more about the investigation or your legal rights and remedies, please email Melissa Fortunato at firstname.lastname@example.org or by calling (646) 860-9157 or via fill out this contact form. There are no costs or obligations for you.
About Bragar Eagle & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. More information about the company can be found at www.bespc.com. attorney advertising. Previous results not …