Akin Gump Wins Dismissal of Investor Suit Against SunCoke Energy Partners L.P.
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(Dallas) – Akin Gump has won the dismissal of an investor suit brought against SunCoke Energy Partners L.P. related to its merger with its general partner and majority owner.
The lawsuit, consolidated in federal court in Delaware, claimed that SunCoke and its directors violated securities laws and breached their duties to investors in connection with the raw material processing and handling company’s “simplification transaction” or planned merger with SunCoke Energy Inc., because equity holders were not provided with enough information to make an informed decision on the transaction. Akin Gump advised the conflicts committee of the board of directors of the general partner of SunCoke Energy Partners L.P. in that merger. (Click here to learn more.)
Judge Colm F. Connolly ruled against the plaintiffs, saying that investor votes were not needed “to authorize the merger.” He also found there to be no “misleading or deceptive conduct,” as alleged.
To read the opinion, please click here.
The Akin Gump team representing the conflicts committee of SunCoke in the litigation included partners Michelle Reed and Scott Barnard.
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers and advisors in offices throughout the United States, Europe, Asia and the Middle East. Founded in 1945, the firm is proudly celebrating its 75th anniversary in 2020. #AkinGump75
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