SemGroup Corporation

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Ademi & O’Reilly, LLP is investigating SemGroup (NYSE: SEMG) for possible breaches of fiduciary duty and other violations of the law in connection with the sale of SemGroup to Energy Transfer.

Ademi & O’Reilly, LLP alleges SemGroup’s financial outlook is improving and yet shareholders will receive the equivalent of only $17 per share for each share of SemGroup common stock.  Energy Transfer is acquiring SemGroup at a substantial discount.  The merger agreement unreasonably limits competing bids for SemGroup by prohibiting solicitation of further bids, and imposing a termination penalty if SemGroup accepts a superior bid. SemGroup insiders will receive millions of dollars as part of change of control arrangements. We are investigating on the conduct of SemGroup’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for SemGroup.