Crestwood Midstream Partners LP is engaged in gathering, processing, storing and transporting natural gas, NGLs, and crude oil.

According to the Complaint, on May 6, 2015, the Buyout Group and the Partnership announced that they had entered into a series of agreements that will culminate in the Equity Partners and Crestwood Equity GP LLC, through CEQP ST SUB LLC and MGP GP, LLC (collectively referred to herein as the “Buyout Group”), acquiring all of the outstanding units of Crestwood Midstream in a unit-for-unit transaction.

According to the Complaint, the Board has breached its fiduciary duties by agreeing to the Merger for grossly inadequate consideration.

The parties entered into a Stipulation of Settlement on June 13, 2016. This Settlement was preliminarily approved on June 21. The Settlement was granted final approval on October 14.