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Case Status:    ONGOING    
On or around 09/03/2020 (Date of last review)

Filing Date: September 02, 2020

According to the Complaint, CNX Midstream Partners LP is a master limited partnership that owns, operates, develops, and acquires gathering and other midstream energy assets to service natural gas production in the Appalachian Basin in Pennsylvania and West Virginia. The Partnership’s assets include natural gas gathering pipelines and compression and dehydration facilities, as well as condensate gathering, collection, separation, and stabilization facilities.

This action stems from a proposed transaction announced on July 27, 2020, pursuant to which CNX Midstream Partners LP and CNX Midstream GP LLC, the general partner of the Partnership, will be acquired by CNX Resources Corporation (“Parent”) and CNX Resources Holdings LLC (“Merger Sub,” and together with Parent, “CNX Resources”).

On July 26, 2020, the Board of Directors caused the Partnership to enter into an agreement and plan of merger with the General Partner and CNX Resources. Pursuant to the terms of the Merger Agreement, CNX Midstream’s unitholders will receive 0.88 shares of Parent common stock for each common unit of CNX Midstream they own.

On August 28, 2020, Defendants filed a prospectus with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Prospectus omits material information with respect to the Proposed Transaction, which renders the Prospectus false and misleading.

COMPANY INFORMATION:

Sector: Energy
Industry: Oil & Gas - Integrated
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CNXM
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: D. Delaware
DOCKET #: 20-CV-01173
JUDGE: Hon. Colm F. Connolly
DATE FILED: 09/02/2020
CLASS PERIOD START: 07/27/2020
CLASS PERIOD END: 09/02/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Rigrodsky & Long, P.A. (Wilmington)
  2. RM Law, P.C. (Berwyn)
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available