BALA CYNWYD, PA / ACCESSWIRE / September 27, 2019 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of SemGroup Corporation ("SemGroup" or "the Company") (NYSE:SEMG -News) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to Energy Transfer LP.
Under the terms of the transaction, SemGroup shareholders will receive only $6.80 in cash and 0.7275 shares of Energy Transfer common units for each share of SemGroup common stock owned. The transaction values SemGroup at $17.00 per share based on the September 13, 2019 closing price of Energy Transfer LP. The investigation concerns whether the SemGroup Board breached its fiduciary duties to shareholders and whether Energy Transfer LP is underpaying for the Company. The transaction may undervalue the Company and would result in a substantial loss for many SemGroup shareholders. For example, the 52-week high of the Company is $23.50 and it previously traded at over $84 a share.
If you own shares of SemGroup stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, visiting http://www.brodskysmith.com/cases/semgroup-corporation-semg/or calling toll free 877-534-2590.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC
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