The Law Office of Joseph Klein is Investigating Possible Breaches of Fiduciary Duty by the Board of K-Sea Transportation Part...

The Law Office of Joseph Klein is investigating the Board of Directors of K-Sea Transportation Partners L.P. (NYSE: KSP) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Kirby Corporation (“Kirby”) (NYSE: KEX). Under the terms of the transaction, K-Sea shareholders can elect to receive either $8.15 in cash or $4.075 in cash plus 0.0734 of a share of Kirby common stock per share of K-Sea. The total value of the transaction is approximately $600 million, consisting of $335 million for K-Sea's equity and the refinancing of $265 million of K-Sea debt. K-Sea’s general partner will receive $8.15 in cash for each general partner unit and $18 million in cash for K-Sea’s incentive distribution rights.

The investigation concerns whether the K-Sea Board of Directors breached their fiduciary duties to K-Sea stockholders by failing to adequately shop the Company before entering into this transaction and whether Kirby is underpaying for K-Sea shares, thus unlawfully harming K-Sea stockholders. K-Sea reported a book value of $11.77 per share, for the most recent quarter.

If you own common stock in K-Sea and wish to obtain additional information, please contact Joseph Klein, Esq. directly, via email at [e-mail], by telephone at 718-947-0005, Toll Free: 877-STOK-180, or visit http://www.jkleinlawfirm.com/k-sea-transportation-ksp.html.

Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.