The Law Office of Robbins Umeda LLP Announces Class Action Suit Against Duncan Energy Partners L.P.
14 Juli 2011 - 8:59PM
Business Wire
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. (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.
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 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, via the shareholder information
form on our website or by e-mail at info@robbinsumeda.com. 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.
Robbins Umeda LLP, a California-based law firm, and Kendall Law
Group, LLP, a Texas based law firm, have significant experience
representing investors in securities fraud class actions,
merger-related shareholder class actions, and shareholder
derivative actions. For more information about each firm, please go
to http://www.robbinsumeda.com or
http://www.kendalllawgroup.com.
Press release link:
http://www.robbinsumeda.com/shareholders-rights-blog/duncan-energy-class-action/
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