Case Page

 

Case Status:    ONGOING    
On or around 09/18/2018 (Ongoing date of last review)

Filing Date: September 17, 2018

According to the Complaint, Energy Transfer Partners LP ("ETP" or the "Company") is engaged in the midstream transportation and storage of natural gas, natural gas liquids (“NGLs”), refined products and crude oil, and terminalling services and acquisition and marketing activities, as well as NGL storage and fractionation services. ETP is managed by its general partner, Energy Transfer Partners GP, L.P. (“ETP GP”), and ETP GP is managed by its general partner, Energy Transfer Partners, L.L.C. (“ETP Managing GP”).

On August 1, 2018, ETP and Energy Transfer Equity, L.P. (“ETE”) issued a joint press release announcing they had entered into an Agreement and Plan of Merger (the “Merger Agreement”). Under the terms of the Merger Agreement, ETP unitholders will be entitled to receive 1.28 common units of ETE for each ETP common unit they own (the “Merger Consideration”). The Proposed Transaction is valued at approximately $27 billion.

On September 12, 2018, ETP filed a definitive proxy statement on Schedule 14A (the “Proxy Statement”) with the SEC. The Complaint alleges that the Proxy Statement, which recommends that ETP unitholders vote in favor of the Proposed Transaction, omits or misrepresents material information concerning, among other things: (i) the valuation analyses performed by ETP’s financial advisor in support of its fairness opinion; and (ii) potential conflicts of interest faced by ETP's financial advisor.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: ETP
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. Texas
DOCKET #: 18-CV-02478
JUDGE: Hon. David C Godbey
DATE FILED: 09/17/2018
CLASS PERIOD START: 08/01/2018
CLASS PERIOD END: 09/17/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Federman & Sherwood (Dallas)
    2926 Maple Avenue, Suite 200, Federman & Sherwood (Dallas), TX 75201
    ·
  2. WeissLaw LLP
    551 Fifth Avenue, Suite 1600, WeissLaw LLP, NY 10176
    212.682.3025 212.682-3010 · info@wllawny.com
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available