DALLAS--(BUSINESS WIRE)--Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor LLP are investigating potential claims against the Board of Directors of Rose Rock Midstream, L.P. (“Rose Rock”) (NYSE: RRMS) concerning the sale to SemGroup Corp. Under the terms of the agreement, Rose Rock unitholders will only receive 0.8136 shares of SemGroup (NYSE: SEMG) for each Rose Rock unit owned. Based on the closing price of SemGroup before the deal was announced, the consideration is valued at approximately $24.00 per unit, which is virtually no premium over the 52-week high and lower than at least one analyst’s estimated value of $32.00 per unit.
If you are an affected investor, and you want to learn more about the investigation or if you have information that you believe would be helpful to our investigation of the fairness of the proposed transaction, contact Willie Briscoe at The Briscoe Law Firm, PLLC via email at firstname.lastname@example.org, Patrick Powers at Powers Taylor LLP via e-mail at email@example.com or by calling toll free at (877) 728-9607. There is no cost or fee to you.
The investigation centers on whether Rose Rock’s Board of Directors is acting in the shareholders’ best interests, whether the board considered alternatives to the acquisition, and whether the board has employed an adequate process to review and act on the proposed transaction. Notably, at least one analyst with Yahoo! Finance believes the true inherent value of the stock could be as high as $32.00.
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.