NEW YORK, Aug. 26, 2016 /PRNewswire/ -- Notice is
hereby given that Faruqi & Faruqi, LLP has filed a class action
lawsuit in the United States District Court for the District of
Arizona, case no. 2:16-cv-02844,
on behalf of unitholders of Northern Tier Energy LP ("NTI" or the
"Company") (NYSE:NTI) who held NTI securities on the record
date, May 23, 2016, and have been
harmed by NTI's and its board of directors' (the "Board") alleged
violations of Sections 13(e), 14(a) and 20(a) of the Securities
Exchange Act of 1934 (the "Exchange Act") and Securities and
Exchange Commission ("SEC") Rules 14a-9 and 13e-3 in connection
with the going private transaction between NTI and Western
Refining, Inc. ("WNR"). The complaint also asserts claims
against WNR and NTI's financial advisor, Evercore Group L.L.C., for
alleged violations of Sections 13(e) and 14(a) of the Exchange Act
and SEC Rules 14a-9 and 13e-3.
On December 21, 2015, NTI
announced it had entered into an Agreement and Plan of Merger
("Merger Agreement") pursuant to which WNR would acquire the 61.6%
of outstanding NTI common units it did not already own (the
"Transaction"). The Transaction closed on June 23, 2016.
If you wish to obtain information concerning this action or
view a copy of the complaint, you can do so by clicking here:
www.faruqilaw.com/NTInotice.
Pursuant to the terms of the Merger Agreement, which was
unanimously approved by the Board, NTI's shareholders had the
choice to elect to receive consideration, subject to proration, of
either: (i) $15.00 in cash without
interest and 0.2986 of a share of WNR Common Stock, or (ii)
$26.06 in cash without interest, or
(iii) 0.7036 of a share of WNR Common Stock ("Merger
Consideration"). The complaint claims that the Merger Consideration
was inadequate in light of the Company's recent financial
performance and strong growth prospects.
The complaint alleges that the proxy statement/prospectus (the
"Proxy") filed with the SEC on May 23,
2016 provided materially incomplete and misleading
information about the Company and the Proposed Transaction, in
violation of Sections 13(e), 14(a) and 20(a) of the Exchange Act
and SEC Rules 14a-9 and 13e-3. The Proxy failed to provide NTI's
shareholders with material information concerning the financial and
procedural fairness of the Transaction.
Take Action
Plaintiff is represented by Faruqi & Faruqi, LLP, a law firm
with extensive experience in prosecuting class actions, and
significant expertise in actions involving corporate fraud.
Faruqi & Faruqi, LLP, was founded in 1995 and the firm
maintains its principal office in New
York City, with offices in Delaware, California, and Pennsylvania.
If you wish to serve as lead plaintiff, you must move the Court
no later than 60 days from today. Any member of the putative
class may move the Court to serve as lead plaintiff through counsel
of their choice, or may choose to do nothing and remain an absent
class member. If you wish to discuss this action, or have any
questions concerning this notice or your rights or interests,
please contact:
Nadeem Faruqi, Esq.
Derrick Farrell, Esq.
FARUQI & FARUQI, LLP
685 3rd Avenue, 26th Floor
New York, NY 10017
Telephone: (877) 247-4292 or (212) 983-9330
E-mail: nfaruqi@faruqilaw.com
dfarrell@faruqilaw.com
Logo -
http://photos.prnewswire.com/prnh/20120119/MM38856LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/faruqi--faruqi-llp-announces-filing-of-a-class-action-lawsuit-against-northern-tier-energy-lp-300318910.html
SOURCE Faruqi & Faruqi, LLP