Harwood Feffer LLP Announces Investigation of Cleco Corporation

Oct 20, 2014

NEW YORK, Oct. 20, 2014 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Cleco Corporation ("Cleco" or the "Company") (NYSE: CNL) concerning the proposed acquisition of the Company by an investor led by Macquarie Infrastructure and Real Assets and British Columbia Investment Management Corporation, together with John Hancock Financial and other infrastructure investors (collectively, the "Acquirers").

Under the terms of the transaction, the Acquirers would acquire Cleco in a transaction valued at approximately $4.7 billion. Cleco shareholders are being offered $55.37 in cash for each share. According to Yahoo! Finance, a least one analyst has set a target price for Cleco stock at $58.00 per share.

Our investigation concerns whether the Cleco board of directors is fulfilling its fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company stockholders.

If you own Clecod shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Benjamin I. Sachs-Michaels, Esq.
Robert I. Harwood, Esq.
Craig Lowther
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
(212)935-7400
Email: bsachsmichaels@hfesq.com
Website: http://www.hfesq.com

Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.

Attorney Advertising. The law firm responsible for this advertisement is Harwood Feffer LLP (www.hfesq.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter.

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SOURCE Harwood Feffer LLP