NEW YORK, Oct. 24, 2014 /PRNewswire/ -- Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Cleco Corporation ("Cleco" or the "Company") (NYSE: CNL) for potential breaches of fiduciary duties in connection with the sale of the Company to an investor group led by Macquarie Infrastructure and Real Assets, British Columbia Investment Management Corporation, and John Hancock Financial (the "Consortium") for approximately $4.7 billion.  The Company's stockholders will only receive $55.37 for each share of Cleco common stock they own.

Click here for more information: www.faruqilaw.com/CNL.  There is no cost or obligation to you.

The investigation focuses on whether Cleco's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Cleco's shareholders.

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation.  The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation.  The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.

If you own common stock in Cleco and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/CNL or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330. 

Contact:

Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
jmonteverde@faruqilaw.com 
Toll Free: (877) 247-4292
Phone:   (212) 983-9330

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SOURCE Faruqi & Faruqi, LLP