Federman & Sherwood Announces That a Securities Class Action Lawsuit Has Been Filed Against Crestwood Midstream Partners LP (NYSE: CMLP)
OKLAHOMA CITY, OK--(Marketwired - Jun 18, 2013) - On June 17, 2013, a class action lawsuit was filed in the United States District Court for the Southern District of Texas against Crestwood Midstream Partners LP (NYSE: CMLP) ("Crestwood"). The complaint alleges violations of federal securities laws, Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 and Rule 14a-9, including allegations of issuing a series of material or false misrepresentations with respect to the proposed takeover of Crestwood by Inergy, L.P. (NYSE: NRGY), thereby affecting all holders of Crestwood who owned units on May 6, 2013.
Plaintiff seeks to recover damages on behalf of all Crestwood Midstream Partners LP unitholders due to false and misleading information contained in a proxy statement disseminated by Crestwood and its Board, all in connection with Crestwood's attempt to consummate its proposed acquisition by Inergy under an unfair process and for an unfair price. On May 6, 2013, Crestwood and Inergy announced they had entered into a definitive agreement, whereby Inergy would acquire all of Crestwood's outstanding units. On May 29, 2013, Crestwood filed a Registration Statement with the SEC on Form S-4 ("S-4"), and disseminated this S-4 to unitholders in advance of the vote to approve the acquisition. The S-4 omitted a number of material facts necessary to make the statements made in the S-4 not false and misleading, which included events leading up to the definitive agreement entered into by the two companies, the analysis conducted by the financial advisors for Crestwood's Board, and the conflicts of interest burdening the various parties to the deal.
If you are Crestwood unitholder, you may move the Court no later than Friday, August 16, 2013 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995. If you wish to discuss this action, obtain further information and participate in this or any other securities litigation, or should you have any questions or concerns regarding this notice or preservation of your rights, please contact:
