According to the complaint filed on October 13, 2010, the Proposed Transaction under dispute was a grossly inadequate and unfair and was arrived at by an unfair and tainted process that was intended to provide valuable assets of Holdings to defendants for unfair and inadequate consideration. Defendants have acted together, in concert, or in conspiracy to the detriment of the Company and in breach of the Holdings GP and Director Defendants' fiduciary duties to Holdings.
The Merger Agreement also provides that upon the closing of the Merger, the director of Holdings GP that does not currently serve on the Partnership board of directors will be invited to join the board of Partnership GP.
On December 07, 2010, an order was submitted after the parties informed the Court that they are finalizing settlement documentation for this case and several state court cases waiting for approval by the Circuit Court of Jackson County, Missouri at Kansas City.
On June 7, 2011, the plaintiffs filed a joint motion to dismiss the case with prejudice. The parties jointly move the Court to dismiss with prejudice the case on the basis that it has become moot by virtue of a settlement that was approved in state court. According to the Order of Dismissal granted by District Judge Scott O. Wright on June 8, 2011, the case is hereby dismissed with prejudice, with each party to bear its own costs.