Shareholders Sue Over $9B Enterprise Deal

Law360, New York (September 13, 2010, 6:17 PM EDT) -- Energy company Enterprise Products Partners LLP is facing a putative consolidated class action over its proposed $9 billion purchase of related entity Enterprise GP Holdings LP, which allegedly gives short shrift to minority shareholders.

Named plaintiff Sanjay Israni, an Enterprise GP unitholder, filed suit Thursday in the Court of Chancery of the State of Delaware, asking the court to halt the proposed purchase or to rescind the purchase if it’s already gone through before the court takes action. The suit names the boards of directors at...
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