According to the Complaint, American Midstream Partners, LP is a master limited partnership formed to own, operate, develop, and acquire a diversified portfolio of midstream energy assets. Until July 23, 2019, American Midstream traded on the New York Stock Exchange under the ticker AMID. Following the take-private transaction, American Midstream changed its name to Third Coast Midstream, LLC.

This Action revolves around an alleged undisclosed scheme set in place by Defendants to take American Midstream private for a fraction of its value. In order to effectuate their plans, the Complaint alleges Defendants abused their control over the Company by first reducing, and then withholding, American Midstream’s quarterly distribution, which caused its unit price to plummet.

On December 11, 2019, the Court issued an Order appointing Co-Lead Plaintiffs and Counsel. Co-Lead Plaintiffs filed an amended Complaint on February 18, 2020. Defendants filed a Motion to Dismiss the amended Complaint on April 20. On March 8, 2021, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to amend the Complaint. On April 8, the Clerk of Court closed the case.