Rigrodsky Law investigates EnLink Midstream over acquisition fiduciary issues
- Rigrodsky Law is investigating possible breaches of fiduciary duties related to the acquisition of EnLink Midstream.
- EnLink shareholders are set to receive ONEOK common stock in exchange for their shares.
- The investigation emphasizes the importance of adhering to fiduciary responsibilities during corporate acquisitions.
In Wilmington, Delaware, Rigrodsky Law, P.A. has initiated an investigation into EnLink Midstream, LLC, following an announcement regarding its acquisition by ONEOK, Inc. The acquisition agreement stipulates that shareholders of EnLink will receive 0.1412 shares of ONEOK common stock for every share of EnLink they own. This investigation is aimed at determining potential breaches of fiduciary duties and other legal violations that could have occurred during the negotiation of this buyout. The investigation can have significant implications for EnLink shareholders, as they may need to assess their legal rights regarding the transaction. The concerns raised by Rigrodsky Law focus on whether the board of directors of EnLink acted in the best interests of its shareholders during the buyout process, as striking a favorable deal often requires careful negotiation and transparency. If breaches are found, this may lead to lawsuits or settlements that could benefit shareholders, emphasizing the need for lawful conduct by company boards in restructure or acquisition scenarios.