Energy Transfer Partner LP Unitholder Lawsuit Against Board of Directors Passes First Legal Hurdles, Announces Goldfarb LLP
DALLAS, TX--(Marketwire -08/08/12)- A lawsuit against the Energy Transfer Partners (ETP) board can proceed, according to a court order from Harris County, Texas. The ETP unitholder's lawsuit alleged that Dallas-billionaire Kelcy Warren was the "puppetmaster" manipulating a one-sided transaction to the detriment of Energy Transfer Partners. Concerned ETP unitholders are encouraged to contact securities lawyer Hamilton Lindley for details about their rights and remedies at 877-583-2855 or hlindley@goldfarbllp.com.
"Among other things, the case alleges that the board caused: (1) ETP to pay an unreasonable premium over the value of Citrus Corp; (2) ETP to divest its profitable propane gas assets at an unfair price to close the transaction; and (3) ignore the conflicts of interests of the interrelationships of the board," said Hamilton Lindley. "The lawsuit seeks to enforce proper internal controls on the board members and force the board to pay back any money to the partnership that was illegally obtained."
Goldfarb LLP lawyers have significant experience representing shareholders in securities lawsuits nationwide. ETP unitholders -- or anyone with knowledge about this situation -- should contact lawyer Hamilton Lindley at hlindley@goldfarbllp.com or 877-583-2855.
