NEW YORK, Sept. 17, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of the SemGroup Corporation ("SemGroup" or the "Company") (NYSE: SEMG) in connection with the proposed merger of the Company with Energy Transfer LP ("Energy Transfer") (NYSE: ET). Under the terms of the merger agreement, SemGroup shareholders will receive $6.80 and 0.7275 ET shares for each SEMG share they hold.
If you own SEMG shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
Or follow us on Twitter @MarketsAlert
WeissLaw is investigating whether SemGroup's Board acted to maximize shareholder value prior to entering into the merger agreement. Notably, the deal will significantly strengthen Energy Transfer's crude oil station and transport capabilities through SemGroups' world class Houston Fuel Oil Terminal. SemGroup's recently announced increased year-over-year Adjusted EBITDA in second quarter 2019 "highlights the value of strategic projects such as the Houston terminal expansion...which will provide long-term, stable cash flows," according to the Company's President and CEO, Carlin Conner. Additionally, the merger also will greatly expand Energy Transfer's crude oil infrastructure and gathering capabilities.
SemGroup and Energy Transfer will not conduct a conference call in connection with the merger. Given these facts, WeissLaw is concentrating its investigation on whether the merger enhances shareholder value. WeissLaw is concerned whether the proposed merger undervalues the Company, and whether all material information related to the proposed merger is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org
SOURCE WeissLaw LLP