INVESTOR ALERT Levi & Korsinsky, LLP Announces Investigation of Susser Holdings Corporation and Its Board of Directors In Connection With the Sale of the Company to Energy Transfer Partners, L.P. -- SUSS
NEW YORK, April 29, 2014 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Susser Holdings Corporation ("Susser" or "the Company") (NYSE: SUSS) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Energy Transfer Partners, L.P. ("Energy Transfer").
Under the terms of the transaction, Susser shareholders will receive either $80.25 in cash or 1.4506 Energy Transfer shares for each share of Susser stock they own. The transaction has a total approximate value of $1.8 billion. With Susser's acquisition, Energy Transfer would then own Susser's general partner, Susser Petroleum Partners LP, as well as its incentive distribution rights. The investigation concerns whether the Susser Board of directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Energy Transfer is underpaying for Susser shares.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (866) 367-6510 www.zlk.com