NEW ORLEANS, July 15, 2011 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., notify investors that they may move to file lead plaintiff applications in a securities class action lawsuit against Duncan Energy Partners ("Duncan" or the "Company") (NYSE:DEP). The lawsuit was filed in the United States District Court for the Southern District of Texas against Duncan Energy and its board of directors for violations of sections 14(a) and 20(a) of the Securities and Exchange Act of 1934 in connection with the proposed acquisition of Duncan Energy by Enterprise Products Partners L.P.
What You May Do
If you are a Duncan shareholder and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn (lewis.kahn@ksfcounsel.com), toll free, 877-515-1850, or via cell phone any time at 504-301-7900. KSF also encourages anyone with information regarding Duncan's conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
About the Lawsuit
The complaint arises out of an April 29, 2011 press release announcing that the company had entered into a definitive merger agreement with Enterprise, pursuant to which Duncan Energy unitholders would receive 1.010 common units of Enterprise for each common unit of Duncan Energy they own, equating to approximately $43.82 per Duncan Energy unit (the "Proposed Acquisition"). The complaint alleges that certain of the defendants, in connection with Proposed Acquisition, breached or aided and abetted the other defendants' breaches of their express and implied contractual duties under the Amended and Restated Agreement of Limited Partnership of Duncan Energy, dated February 5, 2007, and all subsequent amendments thereto.
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