WILMINGTON, Del., April 22, 2020 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A. announces that it has filed a class action complaint in the United States District Court for the District of Delaware on behalf of holders of EQM Midstream Partners, L.P. (“EQM” or the “Company”) (NYSE: EQM) common units in connection with a proposed acquisition announced on February 27, 2020 (the “Complaint”). The Complaint, which alleges violations of the Securities Exchange Act of 1934 against EQM, its Board of Directors (the “Board”), Equitrans Midstream Corporation (“Equitrans”), EQGP Services, LLC, EQM LP Corporation, and LS Merger Sub, LLC, is captioned Smith v. EQM Midstream Partners, L.P., Case No. 1:20-cv-00466 (D. Del.).
If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 300 Delaware Avenue, Suite 1220, Wilmington, DE 19801, by telephone at (888) 969-4242, by e-mail at info@rl-legal.com, or at https://www.rigrodskylong.com/cases-eqm-midstream-partners-lp,join.
On February 26, 2020, EQM entered into an agreement and plan of merger (the “Merger Agreement”) with Equitrans. Pursuant to the terms of the Merger Agreement, unitholders of EQM will receive 2.44 shares of Equitrans for each unit of EQM common stock they own (the “Proposed Transaction”).
Among other things, the Complaint alleges that, in an attempt to secure unitholder support for the Proposed Transaction, defendants issued materially incomplete disclosures in a Form S-4 Registration Statement (the “Registration Statement”) filed with the United States Securities and Exchange Commission. The Complaint alleges that the Registration Statement omits material information with respect to, among other things, the Company’s and Equitrans’ financial projections and the analyses performed by EQM’s financial advisor. The Complaint seeks injunctive and equitable relief and damages on behalf of holders of EQM common stock.
If you wish to serve as lead plaintiff, you must move the Court no later than June 22, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed 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.
Rigrodsky & Long, P.A., with offices in Delaware and New York, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in securities fraud and corporate class actions nationwide.
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CONTACT:
Rigrodsky & Long, P.A.
Seth D. Rigrodsky
Gina M. Serra
(888) 969-4242 (Toll Free)
(302) 295-5310
Fax: (302) 654-7530
info@rl-legal.com
https://rl-legal.com