NEW YORK, Aug. 1, 2008 (PRIME NEWSWIRE) -- The Rosen Law Firm today announced that a class action lawsuit has been filed on behalf of purchasers of SemGroup Energy Partners, L.P ("SemGroup" of "Company") (Nasdaq:SGLP) securities during the period from February 20, 2008 through July 17, 2008, including purchasers of SemGroup units sold through the Company's February 13, 2008 secondary offering (the "Class Period").
To join the SemGroup class action, go to the website at http://www.rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER.
The complaint asserts that the Company's parent was at high risk for financial problems due to its investment in risky crude oil hedge transactions during the Class Period. The complaint also asserts that the Company was engaged in improper self-dealing transactions with its parent in an effort to support the Company's parent. On July 17, 2008 it was revealed that the Company's parent filed a voluntary petition for reorganization under Chapter 11 of the Bankruptcy Code due to lack of available funds. As a result of these adverse disclosures the complaint asserts that SemGroup's investors were damaged.
A class action lawsuit has already been filed on behalf of SemGroup shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than September 19, 2008. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact plaintiff's counsel, Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com.
The Rosen Law Firm represents investors throughout the nation, focusing its practice in securities class actions.
More information on this and other class actions can be found on the Class Action Newsline at www.primenewswire.com/ca.