According to the Complaint, this action stems from a proposed transaction announced on November 21, 2016 (the “Proposed Transaction”), pursuant to which Energy Transfer Partners, L.P. (“ETP” or the “Partnership”) will be acquired by Sunoco Logistics Partners L.P (“SXL”).
On November 20, 2016, ETP’s Board of Directors (the “Board” or “Individual Defendants”) caused the Partnership to enter into an agreement and plan of merger (the “Merger Agreement”), which was amended on December 16, 2016, with SXL, Sunoco Partners LLC (“SXL GP”), Energy Transfer Equity, L.P. (“ETE”), and Energy Transfer Partners GP, L.P. ( “ETP GP”). Pursuant to the terms of the Merger Agreement, unitholders of ETP will receive 1.5 common units of SXL for each common unit of ETP. On December 19, 2016, defendants filed a Form S-4 Registration Statement (the “Registration Statement”) with the United States Securities and Exchange Commission (“SEC”) in connection with the Proposed Transaction.
The Complaint alleges the Registration Statement omits material information with respect to the Proposed Transaction, which renders the Registration Statement false and misleading.
Plaintiffs filed an amended complaint on July 31, 2017. Plaintiffs filed a second amended complaint on August 21.
This case was voluntarily dismissed on November 21, 2017.