Sunoco, Inc. Merger Litigation (NYSE: SUN)
Law Office of Brodsky & Smith, LLC Announces Investigation of Sunoco, Inc.
BALA CYNWYD, April 30, 2012/PR Newswire/ –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Sunoco, Inc (“Sunoco” or the “Company”) (NYSE- SUN-News) relating to the proposed acquisition by Energy Transfer Partners, L.P. (“Energy Transfer”).
Under the terms of the transaction, Sunoco shareholders may elect to receive either $50.00 in cash, 1.0490 common units of Energy Transfer, or a combination of $25.00 in cash and 0.5245 common units of Energy Transfer for each share of Sunoco stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Sunoco for not acting in the Company’s shareholders' best interests in connection with the sale process to Energy Transfer. The transaction may result in long term holders of Sunoco stock suffering substantial losses and is below a $51.00 analyst target price for Sunoco stock.
If you own shares of Sunoco stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org or by calling toll free 877-LEGAL-90.
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