BALA CYNWYD, Pa., Oct. 24, 2014 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Cleco Corporation ("Cleco") or the "Company") (NYSE –CNL-News) relating to the proposed acquisition by an investor Group led by Macquarie Infrastructure and Real Assets, British Columbia Investment Management Corporation, and John Hancock Financial.

Click here to learn more about the investigation http://brodsky-smith.com/838-cnl-cleco-corporation.html, or call: 877-534-2590. There is no cost or obligation to you.

Under the terms of the transaction, Cleco shareholders will receive only $55.37 in cash for each share of Cleco stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Cleco for not acting in the Company's shareholders' best interests in connection with the sale process. The transaction may undervalue the company and would result in a loss or no real gain for many Cleco Shareholders. For example, Cleco stock traded at $58.68 per share on June 27, 2014 and traded at $56.59 as recently as September 8, 2014. In addition, an analyst has set a $58.00 per share price target on Cleco stock.

If you own shares of Cleco common stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at investorrelations@brodsky-smith.com, by visiting http://brodsky-smith.com/838-cnl-cleco-corporation.html, or calling toll free 877-LEGAL-90. 

Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome. 

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SOURCE Brodsky & Smith, LLC