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WeissLaw LLP Files Class Action Lawsuit Against Energy Transfer Partners, L.P.

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WeissLaw LLP Files Class Action Lawsuit Against Energy Transfer Partners, L.P.

PR Newswire

NEW YORK, Oct. 18, 2018 /PRNewswire/ -- WeissLaw LLP announced that it has filed a class action on behalf of unitholders of Energy Transfer Partners, L.P. ("ETP") (NYSE:ETP) seeking to pursue remedies under the Securities Exchange Act of 1934 (the "Exchange Act") in connection with the proposed acquisition of ETP by Energy Transfer Equity, L.P. ("ETE").  The class action was commenced in the United States District Court for the Northern District of Texas, Dallas Division.

WeissLaw LLP (PRNewsfoto/WeissLaw LLP)

On August 1, 2018, ETP and ETE issued a joint press release announcing that they had entered into an Agreement and Plan of Merger pursuant to which ETP unitholders will be entitled to receive 1.28 common units of ETE for each ETP common unit held (the "Proposed Transaction").

The complaint seeks injunctive and other relief on behalf of the named plaintiff and all ETP unitholders, and alleges that in an attempt to secure unitholder approval for the merger, the defendants filed a materially incomplete and misleading proxy statement with the Securities and Exchange Commission in violation of the Exchange Act.  The omitted and/or misrepresented information is believed to be material to ETP unitholders' ability to make an informed decision whether to vote in favor of the Proposed Transaction.  The plaintiff is represented by WeissLaw, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

If you wish to serve as lead plaintiff, you must move the Court no later than sixty (60) days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Joshua M. Rubin of WeissLaw at 888.593.4771, or by e-mail at stockinfo@weisslawllp.com.  Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions, recovering over a billion dollars for clients. If you have information or would like legal advice concerning possible corporate wrongdoing please email us at stockinfo@weisslawllp.com.

 

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SOURCE WeissLaw LLP

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