SHAREHOLDER ALERT: Brodsky & Smith, LLC Files Class Action against QR Energy, LP in Connection With the Sale of the Company - QRE

BALA CYNWYD, Pa., Sept. 26, 2014 /PRNewswire/ -- Law Office of Brodsky & Smith, LLC today announced that on September 8, 2014, a class action was commenced on behalf of all unit holders of QR Energy, LP ("QR Energy" or the "partnership") common units in the United States District Court for the Southern District of Texas relating to the proposed acquisition by Breitburn Energy Partners LP ("Breitburn") and its affiliates (the "Proposed Transaction"), docket number 4:14-cv-02243.

QR Energy is a limited partnership formed to acquire oil and natural gas assets to enhance and exploit oil and gas properties.  On July 24, 2014, QR Energy and Breitburn entered into a definitive agreement (the "Merger Agreement") whereby Breitburn would acquire all of QR Energy's outstanding units.  Thereafter, on August 20, 2014, defendants caused the Registration Statement on Form S-4 (the "S-4") to be filed with the SEC and disseminated in connection with the upcoming unit holder vote on the Proposed Transaction. 

The complaint alleges that QR Energy, the Board, Breitburn and its affiliates breached their duties, and/or aided and abetted such breaches, in connection with their attempt to consummate the Proposed Transaction pursuant to an unfair process and for an unfair price.  In addition, the complaint alleges QR Energy and the Board disseminated a false and misleading Registration Statement on Form S-4 in violation of securities laws by omitting a number of material facts necessary to make statements made therein not false and misleading, including the events leading to the Merger Agreement, the analyses conducted by the Board's financial advisor, and QR Energy's prospective financial information.

If you are a QR Energy common unit holder and wish to serve as lead plaintiff, you must move the Court no later than 60 days from today, November 25, 2014, to be a lead plaintiff. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Jason Brodsky or Evan Smith of Brodsky & Smith, LLC at (877) LEGAL-90 or via e-mail at [email protected].  Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

Plaintiff seeks injunctive and equitable relief on behalf of all QR Energy unit holders.  The plaintiff is represented by Brodsky & Smith, LLC, which has litigated hundreds of stockholder class and derivative actions from violations of corporate and fiduciary duties.  Please visit http://www.brodsky-smith.com for more information.

SOURCE Brodsky & Smith, LLC

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