Robbins Umeda LLP announces that the firm commenced a class action lawsuit on July 5, 2011, in the U.S. District Court for the Southern District of Texas, Houston Division on behalf of all persons who hold units of common stock of Duncan Energy Partners L.P. (“Duncan Energy” or the “Company”) (NYSE: DEP) against Duncan Energy and its board of directors for violations of sections 14(a) and 20(a) of the Securities and Exchange Act of 1934 in connection with the proposed acquisition of Duncan Energy by Enterprise Products Partners L.P. (“Enterprise”).
The complaint arises out of an April 29, 2011 press release announcing that the Company had entered into a definitive merger agreement with Enterprise, pursuant to which Duncan Energy unitholders would receive 1.010 common units of Enterprise for each common unit of Duncan Energy they own, equating to approximately $43.82 per Duncan Energy unit (the “Proposed Acquisition”).
The complaint alleges that certain of the defendants, in connection with Proposed Acquisition, breached or aided and abetted the other defendants’ breaches of their express and implied contractual duties under the Amended and Restated Agreement of Limited Partnership of Duncan Energy, dated February 5, 2007, and all subsequent amendments thereto. The complaint further alleges that, in an attempt to secure unitholder approval of the Proposed Acquisition, the defendants filed a materially misleading Form S-4 Registration Statement with the U.S. Securities and Exchange Commission in violation of sections 14(a) and 20(a) of the Securities Exchange Act of 1934. The omitted and/or misrepresented information is believed to be material in assisting in assisting Duncan Energy unitholders in making an informed decision whether or not to vote in favor of the Proposed Acquisition.
Plaintiff seeks injunctive relief on behalf of all Duncan Energy unitholders as of April 29, 2011 (the “Class”). The plaintiff is represented by Robbins Umeda LLP and the Kendall Law Group, LLP.
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from July 5, 2011. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Gregory E. Del Gaizo, Esq. of Robbins Umeda LLP at 800-350-6003 or via the shareholder information form below. You may also contact Joe Kendall of Kendall Law Group, LLP at (214) 744-3000 or by email at jkendall@kendalllawgroup.com. Any member of the 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.
Click here to review the complaint.
* The firm name changed from Robbins Umeda LLP to Robbins LLP on January 1, 2013.
