NEW YORK, March 11, 2016 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, notifies investors of class action against Williams Partners L.P. ("Williams Partners" or "the Company") (NYSE: WPZ). The class action has been filed on behalf of a class consisting of all persons or entities who purchased Williams Partners securities during the period between May 13, 2015 and June 19, 2015 inclusive (the "Class Period").
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").
Williams Partners is a Master Limited Partnership (MLP) whose three interstate gas pipelines systems delivers 14 percent of the natural gas and natural gas products consumed in the United States. Williams Partners is managed by Williams Companies, Inc. ("Williams Companies") through its general partner Williams Partners GP.
On May 13, 2015, Williams Partners announced its agreement that Williams Companies, Inc. will purchase all publicly-held Williams Partners common units. Following this news of the proposed merger, Williams Partners stock rose more than 22%.
Conversely, shareholders were not aware that Williams Companies' management was also in discussions with Energy Transfer Equity L.P. (NYSE: ETE) regarding a proposal by the firm to acquire Williams Companies. This agreement would require Williams Companies to terminate its merger with Williams Partners.
On June 22, 2015, Energy Transfer Equity revealed the details of the merger-termination requirement with Williams Companies. Following this news, Williams Partners stock dropped $4.04, or 7.6%, to close at $49.10 on June 22, 2015.
The Complaint alleges that Defendants made materially false and misleading statements to investors and/or failed to disclose that (1) Williams Companies was considering alternative strategic dealings, particularly Energy Transfer's proposal to acquire the Williams Companies, that could prevent Williams Companies from concluding the Williams Partners and Williams Companies merger; and (2) as a result, the Company's common shares traded at an artificially inflated price throughout the Class Period.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint and join the action, visit the firm's website: http://www.bgandg.com/#!wpz/zpftg. To discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email info@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in Williams Partners you have until May 6, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
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SOURCE Bronstein, Gewirtz & Grossman, LLC