Arc Logistics Partners LP ("ALP" or the Company) is an American energy logistics company that owns and operates terminalling, storage, transloading and pipeline assets.

According to the Complaint, on August 29, 2017, the Company, Parent Entities, and the Lightfoot Entities announced that they had entered into a definitive agreement under which Parent Entities and Lightfoot Entities will acquire all of the outstanding common units of ALP in an all-cash transaction (the “Proposed Transaction”). If consummated, unitholders will receive $16.50 in cash for per common unit of ALP. The Proposed Transaction has an enterprise value of approximately $3.0 billion.

The Complaint alleges that on September 26, 2017, Defendants issued materially incomplete and misleading disclosures in the Schedule 14A Preliminary Proxy Statement (the “Proxy”) filed with the United States Securities and Exchange Commission in connection with the Proposed Transaction. According to the Complaint, the Proxy is deficient and misleading in that it fails to provide adequate disclosure of all material information related to the Proposed Transaction. Plaintiff alleges that Defendants violated Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the “1934 Act”) in connection with the Proxy.

This case was voluntarily dismissed on December 13, 2017.