Gerber v. Enterprise Products Holdings, LLC

JACOBS, Justice:

I. INTRODUCTION

The plaintiff, Joel A. Gerber, held limited partnership units (“LP units”) of Enterprise GP Holdings, L.P., a Delaware limited partnership (“EPE”). Gerber brought this action in the Court of Chancery on behalf of two classes of former public holders of LP units of EPE. On behalf of the first class (“Class I”), Gerber challenged the sale by EPE in 2009 of Texas Eastern Products Pipeline Company, LLC (“Tepp-co GP”) to Enterprise Products Partners, L.P. (“Enterprise Products LP”) (the “2009 Sale”). On behalf of the second class (“Class II”), Gerber challenged the…