The Rosen Law Firm Announces a Shareholder Class Action Charging SemGroup Energy
Partners, L.P. With Violations of the Federal Securities Laws -- SGLP
NEW YORK, Aug. 1, 2008 (PRIME NEWSWIRE) -- The Rosen Law Firm today announced
that a class action lawsuit has been filed on behalf of purchasers of SemGroup
Energy Partners, L.P ("SemGroup" of "Company") (Nasdaq:SGLP) securities during
the period from February 20, 2008 through July 17, 2008, including purchasers of
SemGroup units sold through the Company's February 13, 2008 secondary offering
(the "Class Period").
To join the SemGroup class action, go to the website at
http://www.rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq.
toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com
for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED,
YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN
ABSENT CLASS MEMBER.
The complaint asserts that the Company's parent was at high risk for financial
problems due to its investment in risky crude oil hedge transactions during the
Class Period. The complaint also asserts that the Company was engaged in
improper self-dealing transactions with its parent in an effort to support the
Company's parent. On July 17, 2008 it was revealed that the Company's parent
filed a voluntary petition for reorganization under Chapter 11 of the Bankruptcy
Code due to lack of available funds. As a result of these adverse disclosures
the complaint asserts that SemGroup's investors were damaged.
A class action lawsuit has already been filed on behalf of SemGroup
shareholders. If you wish to serve as lead plaintiff, you must move the Court no
later than September 19, 2008. If you wish to join the litigation or to discuss
your rights or interests regarding this class action, please contact plaintiff's
counsel, Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm toll
free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com or
pkim@rosenlegal.com.
The Rosen Law Firm represents investors throughout the nation, focusing its
practice in securities class actions.
More information on this and other class actions can be found on the Class
Action Newsline at www.primenewswire.com/ca.
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CONTACT: The Rosen Law Firm P.A.
Laurence Rosen, Esq.
Phillip Kim, Esq.
(212) 686-1060
Weekends Tel: (917) 797-4425
Toll Free: 1-866-767-3653
Fax: (212) 202-3827
www.rosenlegal.com
350 5th Avenue, Suite 5508
New York, New York 10118
