According to the Complaint, SemGroup Corporation moves energy across North America through a network of pipelines, processing plants, refinery-connected storage facilities, and deep-water marine terminals with import and export capabilities.

This action stems from a proposed transaction announced on September 16, 2019, pursuant to which SemGroup Corporation will be acquired by Energy Transfer LP.

On September 15, 2019, SemGroup’s Board of Directors caused the Company to enter into an agreement and plan of merger with Energy Transfer.

On October 3, 2019, Defendants filed a Form S-4 Registration Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Registration Statement omits material information with respect to the Proposed Transaction, which renders the Registration Statement false and misleading.

This case was voluntarily dismissed on December 6, 2019.