INVESTOR ALERT: Law Firm of Levi & Korsinsky, LLP Starts and Investigation of the Board of Directors of Cleco Corporation Regarding the Fairness of the Sale of the Company to a Consortium

NEW YORK--(BUSINESS WIRE)--

Levi & Korsinsky is investigating the Board of Directors of Cleco Corporation (“Cleco” or “the Company”) CNL for possible breaches of fiduciary duty and other violations of state law 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”).

Click here to learn more about the investigation: http://zlk.9nl.com/cleco-cnl.

Under the terms of the transaction, Cleco shareholders will receive $55.37 for each share of Cleco stock they own. The investigation concerns whether the Board of Cleco breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether the Consortium is underpaying for Cleco shares. In particular, at least one analyst set a price target of $58.00 per Cleco share.

If you own Cleco common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/cleco-cnl.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 28 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.