NEW YORK, Feb. 15, 2017
NEW YORK, Feb. 15, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of CVR Energy, Inc. ("CVR" or the "Company") (NYSE: CVI). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether CVR and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On February 14, 2017, shortly before the end of the trading day, the U.S. Securities and Exchange Commission ("SEC") announced that CVR had settled an SEC probe into the Company's unsuccessful defense against Carl Icahn's 2012 hostile takeover bid. The SEC's investigation focused on whether CVR had properly characterized fees paid to advisers Goldman Sachs and Deutsche Bank to defend against Icahn's tender offer. CVR agreed to settle the probe without admitting or denying wrongdoing, and the SEC stated that the Company would pay no penalty in light of remedial steps it had taken and its "extensive cooperation" with the probe.
On this news, CVR's share price has fallen as much as $0.62, or 2.84%, to a low of $21.23 during intraday trading on February 15, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP