BALA CYNWYD, Pa., Oct. 24, 2014 /PRNewswire/ -- Law office of
Brodsky & Smith, LLC announces that it is investigating
potential claims against the Board of Directors of Cleco
Corporation ("Cleco") or the "Company") (NYSE –CNL-News) relating
to the proposed acquisition by an investor Group led by Macquarie
Infrastructure and Real Assets, British Columbia Investment
Management Corporation, and John Hancock Financial.
Click here to learn more about the investigation
http://brodsky-smith.com/838-cnl-cleco-corporation.html, or call:
877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Cleco shareholders will
receive only $55.37 in cash for each
share of Cleco stock they own. The investigation concerns possible
breaches of fiduciary duty and other violations of state law by the
Board of Directors of Cleco for not acting in the Company's
shareholders' best interests in connection with the sale process.
The transaction may undervalue the company and would result in a
loss or no real gain for many Cleco Shareholders. For example,
Cleco stock traded at $58.68 per
share on June 27, 2014 and traded at
$56.59 as recently as September 8, 2014. In addition, an analyst has
set a $58.00 per share price target
on Cleco stock.
If you own shares of Cleco common 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
602, Bala Cynwyd, PA 19004, by
e-mail at investorrelations@brodsky-smith.com, by visiting
http://brodsky-smith.com/838-cnl-cleco-corporation.html, 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 case 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 successfully
recovered millions of dollars for our clients and shareholders.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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SOURCE Brodsky & Smith, LLC