WeissLaw LLP: Rice Midstream Partners LP is the Subject of a Legal Investigation

NEW YORK, May 1, 2018 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Rice Midstream Partners ("RMP" or the "Company") (NYSE: RMP).  On April 26, 2018, the Company, announced that it had entered into a midstream streamlining agreement pursuant to which EQT Midstream Partners LP ("EQT") (NYSE: EQM) will acquire all outstanding shares of RMP in unit-for-unit transaction valued at approximately $2.4 billion.  Under the terms of the agreement, RMP shareholder will receive 0.3319 of an EQT share for each RMP share they hold, representing consideration of $18.62 based on EQM's May 1 closing price.

WeissLaw is investigating whether RMP's Board acted to maximize shareholder value prior to entering into the agreement.  Notably, at least one analyst set a target price of $25.00 per RMP share, or $6.34 more than the per-share consideration.  Moreover, the $18.62 per-share consideration is $7.52, or nearly 30%, less than RMP's 52-week high of $26.18.

Given these facts, WeissLaw is investigating whether RMP shareholders will obtain their fair and proportionate share of the Company's continued success and growth prospects.  If you own RMP shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com. 

WeissLaw LLP 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 stockinfo@weisslawllp.com or fill out the form on our website, http://www.weisslawllp.com/rice-midstream-partners-lp/

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SOURCE WeissLaw LLP