$2B Inergy Merger Would Shortchange Investors: Suit

Law360, New York (September 16, 2010, 5:59 PM EDT) -- Propane and natural gas company Inergy LP has been hit with a proposed class action derivative suit claiming the company's planned $1.9 billion acquisition of its parent, Inergy Holdings LP, would harm public shareholders.

In a complaint filed Tuesday in the Delaware Chancery Court, shareholder G-2 Trading LLC seeks a court order blocking the planned acquisition, which was announced in August, as well as unspecified damages.

The suit, which alleges breach of fiduciary duty, unjust enrichment and tortious interference, claims that the planned merger would dilute...
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