SOURCE: Brower Piven, A Professional Corporation

November 12, 2010 19:04 ET

Brower Piven Announces Class Action Lawsuit in Connection With the Proposed Merger of Enterprise GP Holdings L.P. Into Enterprise Products Partners L.P.

STEVENSON, MD--(Marketwire - November 12, 2010) - Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in Texas District Court, Harris County on behalf of the unitholders of Enterprise Products Partners L.P. ("Enterprise Products") (NYSE: EPD). 

The complaint alleges claims for breach of fiduciary duties of candor and full disclosure owed to Enterprise Products' public unitholders that arise out of the joint September 7, 2010 announcement by Enterprise Products and Enterprise GP Holdings L.P. ("Enterprise Holdings") that the companies had entered into a definitive Agreement and Plan of Merger and approved the proposed merger of Enterprise Holdings into Enterprise Products unitholders whereby unitholders of Enterprise Holdings will receive 1.5 units of Enterprise Products for each unit of Enterprise Holdings owned. According to the complaint, the Registration Statement Form S-4 issued on September 16, 2010 in connection with the proposed merger misstates and/or omits material information regarding the proposed merger essential to Enterprise Products unitholders' ability to make a fully-informed decision regarding the proposed merger. Further, the complaint alleges that despite the requirement under the applicable partnership agreement that any proposed merger be submitted to a vote of the Enterprise Products unitholders, no such vote by Enterprise Products unitholders has been contemplated or scheduled.

If you are a current owner of Enterprise Products units, you may obtain additional information about this lawsuit by contacting Brower Piven at www.browerpiven.com, by email at piven@browerpiven.com, by calling 410/415-6701, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 40 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

Contact Information

  • CONTACT:
    Charles J. Piven
    Brower Piven, A Professional Corporation
    Stevenson, Maryland
    410/415-6701
    Email Contact