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Friday, January 24, 2020

Stockholder alleges energy company, board violated federal law

By Wadi Reformado | Sep 29, 2016

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PHOENIX (Legal Newsline) — A Tennessee stockholder is suing an energy company and its board, alleging negligent misrepresentation and violation of federal law.

Jeff Kendig of Nashville filed a class action lawsuit, individually and on behalf of all others similarly situated, Aug. 24 in U.S. District Court for the District of Arizona against Northern Tier Enegery LP, Northern Tier Energy GP LLC, David L. Lamp, Paul L. Foster, Lowry Barfield, Timothy Bennett, Rocky L. Duckworth, Thomas Hofmann, Dan F. Smith, Jeff A. Stevens, Scott D. Weaver, Western Refining Inc., Western Acquisition Co. LLC and Evercore Group LLC, alleging they issued incomplete and misleading statements to plaintiff regarding a planned merger, violating the 1934 Securities and Exchange Act.

According to the complaint, Kendig suffered financial damages from being presented with false information regarding the proposed merger of Northern Tier and Western Refining Inc.

The plaintiff alleges the defendants presented misleading information to the common stockholders.

Kendig seeks trial by jury, monetary damages, declare that the proxy distributed by the defendants was false and misleading, compensatory damages, interest, all legal fees and any other relief the court deems just. He is represented by attorney Gary F. Urman of DeConcini McDonald Yetwin & Lacy PC in Tucson, Arizona.

U.S. District Court in and for the District of Arizona Case number 2:16-cv-02844-ROS

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U.S. District Court for the District of Arizona