SemGroup Energy Partners, L.P. Named By Weiss & Lurie In Class Action

August 08 2008

NEW YORK--(BUSINESS WIRE)--The law firm of Weiss & Lurie announced that it has filed a class action lawsuit against SemGroup Energy Partners, L.P. (“SGLP”) (NASDAQ:SGLP) in the United States District Court for the Southern District of New York on behalf of purchasers of common units between July 17, 2007 and July 17, 2008 and on behalf of all purchasers of SGLP’s common units acquired pursuant and/or traceable to the Registration Statement and Prospectus issued in connection with the Partnership’s Initial Public Offering completed on or about July 23, 2007 (“IPO”), as well as all purchasers of SGLP common units acquired pursuant and/or traceable to the Registration Statement and Prospectus issued in connection with the Partnership’s Secondary Offering completed on or about February 20, 2008 (“Secondary Offering”).

The complaint charges SGLP, certain of its executive officers and underwriters with violations of the Securities Act of 1933 and Securities Exchange Act of 1934. The complaint alleges that defendants’ false and misleading statements, which materially misrepresented the Company’s financial results, among other things, caused and maintained the artificial inflation of the price of SGLP common units, and caused those securities to trade at prices in excess of their true value. The complaint also alleges that defendants are strictly liable for the materially false and misleading statements contained in the Registration Statements and Prospectuses.

Plaintiff is represented by Weiss & Lurie, a law firm possessing significant experience and expertise in prosecuting class actions on behalf of defrauded shareholders in federal and state courts throughout the United States. Weiss & Lurie has been responsible for collectively recovering more than a billion dollars on behalf of class members and is one of the nation’s leading firms representing shareholders in securities class action litigation.

If you purchased SGLP common units, you may move the court no later than September 19, 2008, to serve as a lead plaintiff of the class. In order to serve as a lead plaintiff, you must meet certain legal requirements. You do not need to seek appointment as a lead plaintiff in order to share in any recovery.

If you want to obtain a copy of the complaint or want more information about Weiss & Lurie or this action, or if you want to obtain a Certification form to serve as a lead plaintiff, please visit www.weisslurie.com. If you wish to receive an investor package or if you wish to discuss this action, have any questions concerning this notice or your rights or interests with respect to this matter, or if you have any information you wish to provide to us, please contact:

Joseph H. Weiss, Moshe Balsam, and/or Mark D. Smilow, (888) 593-4771 or (212) 682-3025 or via Internet electronic mail at or by writing Weiss & Lurie, The French Building, 551 Fifth Avenue, Suite 1600, New York City 10176.

Link to Press Release: SemGroup Energy Partners, L.P. Named By Weiss & Lurie In Class Action