EQM Stakeholder Seeks To Halt $1.8B Equitrans Merger

By Rose Krebs (April 1, 2020, 8:00 PM EDT) -- An EQM Midstream Partners LP unitholder filed a lawsuit in Delaware federal court seeking to halt the natural gas operator's $1.8 billion share-for-unit merger with Equitrans Midstream Corp., asserting a public disclosure on the transaction is misleading and lacking key financial detail.

In a suit made public Wednesday, unitholder Shiva Stein alleges that EQM and its directors violated the Securities Exchange Act of 1934 by filing a deficient disclosure with the U.S. Securities and Exchange Commission earlier this week.

"The registration statement recommends that the company's unitholders vote in favor of a proposed transaction whereby Equitrans will acquire all of the...

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