IMPORTANT WILLIAMS PARTNERS L.P. UNITHOLDERS ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action l...
March 17 2016 - 3:49PM
Wolf Haldenstein Adler Freeman & Herz LLP announces that a
class action lawsuit has been filed in United States District Court
for the Northern District of Oklahoma on behalf of all persons or
entities who purchased common units of Williams Partners L.P.
(“Williams Partners” or the “Company”) (NYSE:WPZ) from May 13, 2015
through June 19, 2015, inclusive (the “Class Period”).
Shareholders who incurred losses on
Williams Partners L.P. common units purchased within the defined
class period are urged to contact the firm immediately at
classmember@whafh.com or (800) 575-0735 or (212)
545-4774.
If you purchased units, you may, no
later than May 6, 2016, request that the Court appoint you
lead plaintiff of the proposed class.
Williams Partners L.P. is a limited partnership
providing infrastructure for North American natural gas and natural
gas products. Williams Partners is controlled by Williams
Companies, Inc. (“Williams Companies”) through its general partner
Williams Partners GP. All of Williams Companies’ senior
officers are also senior officers of Williams Partners GP and the
two entities also share six common directors.
On May 13, 2015, Williams Partners and Williams
Companies announced that Williams Companies would acquire all
publicly held common units of Williams Partners. On the news
of the proposed merger, Williams Partners units rose more than
22%.
However, the investing public was unaware that
Williams Companies' management was also in discussions with Energy
Transfer Equity L.P. (“ETE”) regarding a proposal by the firm to
acquire Williams Companies. This arrangement would require Williams
Companies to terminate its merger with Williams Partners.
On June 22, 2015, ETE announced the specifics of
its discussions with Williams Companies, including the
merger-termination requirement. On this news, Williams
Partners units fell $4.04, or 7.6%, to close at $49.10 on June 22,
2015.
The Complaint alleges that Williams Partners
made materially false and misleading statements to investors and/or
failed to disclose that (i) Williams Companies was considering
alternate strategic transactions, specifically ETE’s proposal to
acquire the Williams Companies, that could prevent Williams
Companies from completing the Williams Partners and Williams
Companies merger; and (ii) as a result, the Company's common units
traded at an artificially inflated level throughout the Class
Period.
Wolf Haldenstein has extensive experience in the
prosecution of securities class actions and derivative litigation
in state and federal trial and appellate courts across the
country. The firm has attorneys in various practice areas;
and offices in New York, Chicago and San Diego. The
reputation and expertise of this firm in shareholder and other
class litigation has been repeatedly recognized by the courts,
which have appointed it to major positions in complex securities
multi-district and consolidated litigation.
If you wish to discuss this action or have any
questions regarding your rights and interests in this case, please
immediately contact Wolf Haldenstein Adler Freeman & Herz LLP
by telephone at (800) 575-0735, via e-mail at
classmember@whafh.com, or visit our website at www.whafh.com.
All e-mail correspondence should make reference to the “Williams
Partners Investigation.”
Attorney Advertising. Prior results do not
guarantee or predict a similar outcome.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
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