Case Page

 

Case Status:    DISMISSED    
On or around 06/15/2017 (Other)

Filing Date: March 28, 2017

According to the Complaint, on January 31, 2017, ONEOK Partners announced that it had entered into an Agreement and Plan of Merger (“Merger Agreement”), pursuant to which ONEOK, Inc. will acquire all of the outstanding common units representing limited partner interests in ONEOK Partners that ONEOK, Inc. and its subsidiaries do not already own, and New Holdings Subsidiary, LLC will be merged with and into ONEOK Partners, with ONEOK Partners surviving as a wholly owned subsidiary of ONEOK, Inc. (the “Proposed Transaction”).

Pursuant to the terms of the Merger Agreement, ONEOK Partners unitholders will receive 0.985 of a share of common stock of ONEOK, Inc. for each ONEOK Partners common unit they own (the “Merger Consideration”). Based on the closing price of ONEOK, Inc. common stock on March 27, 2017, the implied value of the Merger Consideration is approximately $51.71 per ONEOK Partners common unit.

The Complaint alleges on March 7, 2017, in order to convince ONEOK Partners unitholders to vote in favor of the Proposed Transaction, the Board authorized the filing of a materially incomplete and misleading joint proxy statement/prospectus (the “Proxy”) with the Securities and Exchange Commission (“SEC”), in violation of Sections 14(a) and 20(a) of the Exchange Act.

This case was voluntarily dismissed on June 14, 2017.

COMPANY INFORMATION:

Sector: Energy
Industry: Oil & Gas Operations
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: OKS
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. Oklahoma
DOCKET #: 17-CV-00161
JUDGE: Hon. Gregory K Frizzell
DATE FILED: 03/28/2017
CLASS PERIOD START: 01/31/2017
CLASS PERIOD END: 03/28/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Jones, Gotcher & Bogan, P.C.
    15 E. 5th Street, Suite 3800, Jones, Gotcher & Bogan, P.C., OK 74103
    918-581-8200 ·
  2. Monteverde & Associates PC
    350 Fifth Avenue, 59th Floor, Monteverde & Associates PC, NY 10118
    (212) 971-1341 ·
No Document Title Filing Date