May 1, 2012
Bernstein Liebhard LLP is investigating whether the Board of Directors of Sunoco, Inc. (“Sunoco” or the “Company”) (NYSE: SUN) breached its fiduciary duty to its shareholders in agreeing to sell Sunoco to Energy Transfer Partners, L.P. (NYSE: ETP).
Under the terms of the agreement, Sunoco shareholders will receive $25 in cash and 0.5245 of an ETP common unit for each share they own. The investigation is focused on the potential unfairness of the price to Sunoco shareholders and the process by which the Sunoco Board of Directors considered and approved the transaction.
Bernstein Liebhard has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last nine years.