DIECKMAN v. REGENCY GP LP

C.A. No. 11130-CB.

ADRIAN DIECKMAN, on behalf of himself and all others similarly situated, Plaintiff, v. REGENCY GP LP, REGENCY GP LLC, ENERGY TRANSFER EQUITY, L.P., ENERGY TRANSFER PARTNERS, L.P., ENERGY TRANSFER PARTNERS, GP, L.P., MICHAEL J. BRADLEY, JAMES W. BRYANT, RODNEY L. GRAY, JOHN W. McREYNOLDS, MATTHEW S. RAMSEY and RICHARD BRANNON, Defendants.

Court of Chancery of Delaware.

Decided: March 29, 2016.


Attorney(s) appearing for the Case

Jay W. Eisenhofer and James J. Sabella , GRANT & EISENHOFER P.A., Wilmington, Delaware; Mark Lebovitch , Jeroen van Kwawegen and Alla Zayenchik , BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP, New York, New York; Mark C. Gardy and James S. Notis , GARDY & NOTIS, LLP, New York, New York; Attorneys for Plaintiff Adrian Dieckman.

Rolin P. Bissell and Tammy L. Mercer , YOUNG CONAWAY STARGATT & TAYLOR, LLP, Wilmington, Delaware; Michael Holmes , Manuel Berrelez , Elizabeth Brandon and Craig Zieminski , VINSON & ELKINS LLP, Dallas, Texas; Attorneys for Defendants Regency GP LP, Regency GP LLC, Energy Transfer Equity, L.P., Energy Transfer Partners, L.P., Energy Transfer Partners, GP, L.P., Michael J. Bradley, Rodney L. Gray, John W. McReynolds and Matthew S. Ramsey.

David J. Teklits and D. McKinley Measley , MORRIS, NICHOLS, ARSHT & TUNNELL LLP, Wilmington, Delaware; M. Scott Barnard , Michelle A. Reed and Matthew V. Lloyd , AKIN GUMP STRAUSS HAUER & FELD LLP, Dallas, Texas; Attorneys for Defendants James W. Bryant and Richard Brannon.


MEMORANDUM OPINION

This action involves the acquisition of Regency Energy Partners LP by an affiliated entity for approximately $11 billion in a unit-for-unit merger that closed in April 2015. Plaintiff is a former unitholder of Regency. His primary claim is that Regency's general partner favored the interests of its affiliates...

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