According to the Complaint, NuStar GP Holdings, LLC (“NSH” ) and NuStar Energy, L.P. (the “Partnership”) are engaged in the transportation of petroleum products and anhydrous ammonia, the terminalling and storage of petroleum products, and the marketing of petroleum products. The Partnership currently has more than 9400 miles of pipeline and 81 terminal and storage facilities that store and distribute crude oil, refined products, and specialty
On February 8, 2018, the Partnership and NSH issued a joint press release announcing the Proposed Transaction. On March 14, 2018, the Individual Defendants caused the filing of the Registration Statement with the SEC in connection with the Proposed Transaction. The Complaint alleges that the Registration Statement omits material information that must be disclosed to NSH’s unitholders to enable them to render an informed decision with respect to the Proposed Transaction.