NEW YORK, July 8, 2019 /PRNewswire/ -- WeissLaw LLP announced that it has filed a class action in the United States District Court for the Southern District of New York, on behalf of unitholders of Buckeye Partners, L.P. ("Buckeye") (BPL) in connection with the proposed acquisition of Buckeye by IFM Investors Pty Ltd ("IFM Investors") (the "Proposed Transaction"). The class action seeks to pursue remedies under the Securities Exchange Act of 1934 (the "Exchange Act") on behalf of all persons or entities that purchased or otherwise acquired units of Buckeye as of May 10, 2019 and continue to hold units of Buckeye (the "Class Period").
If you wish to serve as lead plaintiff, you must move the Court no later than sixty (60) days from today. Please contact plaintiff's counsel:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
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On May 10, 2019, Buckeye and IFM Investors issued a joint press release announcing they had entered into an Agreement and Plan of Merger pursuant to which Buckeye unitholders will be entitled to receive $41.50 in cash for each unit of Buckeye they own.
The complaint seeks injunctive and other relief on behalf of the named plaintiff and all Buckeye unitholders, and alleges that in an attempt to secure unitholder approval for the merger, the defendants filed a materially incomplete and misleading proxy statement on Schedule 14A with the U.S. Securities and Exchange Commission in violation of the Exchange Act. The omitted and/or misrepresented information is believed to be material to Buckeye unitholders' ability to make an informed decision whether to vote in favor of the Proposed Transaction. The plaintiff is represented by WeissLaw, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.
Any member of the putative 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.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions, recovering over a billion dollars for clients. If you have information or would like legal advice concerning possible corporate wrongdoing please email us at email@example.com.
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