San Diego, CA -- (SBWIRE) -- 04/13/2016 -- A shareholder of of Spectra Energy Partners, LP (NYSE:SEP) filed a lawsuit over potential breaches of fiduciary duties by certain directors at Spectra Energy Partners in connection with a $3 billion investment midstream joint venture that shortchanged investors to the tune of $500 million.

Investors who purchased shares of Spectra Energy Partners, LP (NYSE:SEP) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff claims that when Phillips 66 Co. decided to pump assets worth $1.5 billion a piece into midstream joint venture DCP Midstream LLC, Spectra Energy Corp. had to buy its contribution from Spectra Energy Partners LP. However, the plaintiff alleges that Spectra Energy Corp.'s intrapartnership transaction with Spectra Energy Partners, LP was worth around $1 billion, creating a $500 million gap.

The plaintiff seeks to the transaction to be rescinded.

Spectra Energy Partners, LP reported that its annual Total Revenue rose from over $1.74 billion in 2011 to over $2.26 billion in 2014 and that its respective Net Income increased from $570 million to over $1 billion. Shares of Spectra Energy Partners, LP (NYSE:SEP) declined from as high as $57.97 per share in late December 2014 to as low as $39.04 per share in September 2015.

On April 11, 2016, NYSE:SEP shares closed at $47.32 per share.

Those who purchased shares of Spectra Energy Partners, LP (NYSE:SEP), have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com