The Law Firm of Levi & Korsinsky, LLP Notifies Investors of Claims of Breaches of Fiduciary Duty by the Board of Sunoco, Inc. in Connection With the Sale of the Company to Energy Transfer Partners, L.P.
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 05/03/12 -- Levi & Korsinsky notifies investors of Sunoco, Inc. ("Sunoco" or the "Company") (NYSE: SUN) of claims of breaches of fiduciary duty and other violations of state law against the board of directors of the Company in connection with the sale of the Company to Energy Transfer Partners, L.P. ("ETP"). Under the terms of the agreement, Sunoco shareholders may elect to receive either $50 in cash, 1.0490 ETP common units, or a combination of $25 in cash and 0.5245 of an ETP common unit for each share of Sunoco stock they own. The total transaction value is approximately $5.3 billion. A complaint was filed in Pennsylvania state court.
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The claims concern whether the Sunoco Board of Directors breached their fiduciary duties to Sunoco stockholders by failing to adequately shop the Company before entering into this transaction and whether ETP is underpaying for Sunoco shares, thus unlawfully harming Sunoco stockholders. In particular, at least one analyst set a price of target of $51.00 per Sunoco share.
If you own common stock in Sunoco and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or .
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street
24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
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Datum: 03.05.2012 - 14:46 Uhr
Sprache: Deutsch
News-ID 142457
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