[jugs]

It's not easy letting go of a fantastic lover, is it ever?

I know I've got to say goodbye but this pick is one of my all-time greats.

Silly old-fashioned fool that I be yet I'm not seeing reason to depart.

NGL is a very suitable partner, of course. So one of these days I'll just flip the switch and accept another life change.

For now, though, I'm not quite ready.

[jugs]

As I whittle away at my few remaining shares of DK, I'm hearing that big buuuuuuurrrrrrrpppppppppp! in the sky.

RIP, my good friend ALDW.

You deserve it.

[jugs]

Excellently stated, my good friend.

[pete807]

DK is the darling of the sector.... We are enjoying the tripling if ALDW's sale price by holding DK!

NGL is going to be the darling when they complete the debt pay down as they have announced..
At the moment what is real good is the yield of NGL not the same can be said about DK. So the moral of the story is to hold for different reasons but similar outtcomes....... INCOME!. Both kinds whether it's appreciation and/or distributions.

So long
GLTA!

[jugs]

This is my farewell message to former ALDW-ites.

I've not received feedback of any sort from legal authorities responsible for handling complaints relating to our being denied last rights and rites involving the final two quarters of distributions.

Since that time when ALDW disappeared I've manage to make some serious cash by holding a few hundred DK following the big swallow.

Obviously I made more by holding than would have been the case had I received just desserts via payouts.

But in any event, the door is closed and I see no point in continuing to hope for salvation.

Rest in peace, fellow country people. The ride was immensely profitable and my remaining 461 shares of Delek are, as well.

I wish every one of you the very best and hope we are all amply rewarded via NGL.

[jugs]

Wow, you're doing great in CVRR.

I've played the pick numerous times in the past and like its chances to do well. But I read Carl Icahn too easily and don't trust him at all.

Still, I'm really pleased that you're prospering in it. That's cool!

[Topfuel]

I took a small position swing trades in it, just left at 45 only had 500 shares on 2 buys in at just over 40, Just a trade, my main play now is one you don't like cvrr, but i have a good position from high 7's

[jugs]

Ho, ho, ho?

lol

To pimp or not to pimp---that is the question.

I'll go wherever I smell opportunity to make money via trading.

But BPT isn't really a bitch. It's not operated by a management team nor does it reflect any type of personality. One man records production numbers and shaves off the appropriate money to be distributed. Simple as that!

What kind of money do you have at risk in it and what's your cost basis?

[Topfuel]

All I can think in layman’s terms if they would have told the shareholders their intentions. The stock would have took a substantial drop so they tried to protect their institutional holders till conversion. That is why I will trade Dk as a ho. Use it and lose it
Disclaimer (lol) I have not tried the ho thing, but have traded DK ho

[jugs]

ALDW is possibly the strangest of all creatures I've encountered over the near quarter-century of my market involvement. And while the terms of separation were exceedingly unpleasant, I'm not yet able to determine how I feel about the resolution as yet pending in my emotion-based machinery.

The conversion vehicle is Delek (DK) as we all know. The current price point is moving towards the $46.50 level. Looking back at the 0.49% conversion rate at the time of the big swallow, ALDW units would now reflect about half that amount or $23.25.

Of course we now know it wouldn't have happened in "true-time" were it not for DK's intrusion. And while I hold only 559 shares of DK, they hold enormous gains in part due to the infusion of ALDW assets and results.

So I'm asking for folks to offer their insights. I don't have peace just yet and perhaps won't. But I'm in great financial shape at the moment, thanks in large measure to my ALDW/DK involvement. My hope is that others here feel similarly but I await your responses.

Thank you!

[Topfuel]

I just received the same dear John email yesterday, I wonder what the lawyers are thinking not pouncing all over this.

[jugs]

Separate entities? Of course.

But ALON no longer exists and only DK could have dispatched the k-1s at their time of forwarding.

One would think they're hoping to minimize scrutiny. Or, should I say, "Screw-Tiny?

Feeling small,

Jugs

[pete807]

From the same SEC filing:

ALDW and Delek will endeavor to coordinate regarding the declaration of any dividends or distributions during the period from the execution of the Merger Agreement to the date that the Merger is consummated with the intent that no ALDW Public Unitholder will fail to be entitled to receive any quarterly distribution by ALDW unless it becomes entitled to receive a quarterly dividend from Delek in respect of the same period.

So if you sold ALDW before the end of 2017, you would not receive a D regardless of a future merger. When the yr and quarter ended December 31, you still had to hold ALDW until the ex date, which never happened.

If you took DK shares in 2018, then the above clause is in effect. My last post here outlines the 2.5 cents we received (which was also given to DK holders who never had anything to do with ALDW?) ...hmmm?
Legally they got some of our deserved distribution didn't they?

The DK position is we did right by OUR investors.

P.S. What about the period BEFORE the November 7th

execution of the Merger Agreement

???

[pete807]

They were totally separate for the reporting period. That is a well known fact. Nothing will be said about a deal that did not happen during 2017... Nothing would be mentioned about a deal that may not have even happened had the SEC examined what was going on.

Yes, they are concealing the last quarters numbers from the K-1... THEY HAVE TO! We are not supposed to know anything about the earnings we are still entitled to a share of!

My only question is why this glaring scam is not being pursued by lawyers? Why can any company take over another and bury the final quarters numbers before the merger?

The SEC pointed to timing of reporting the previous year (late Feb) and fine print in the answer:

If the date of the closing of the Merger is prior to the record date set by the Delek Board in connection with declared dividends, if any, to be paid by Delek to its stockholders, former ALDW Common Unitholders would receive any such dividends on the Delek Common Stock they receive in the Merger if the Merger is consummated before the record date for such dividends.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=139285595

DELEK is saying we gave you 5 cents...(so about 2.5 cents extra for the ALDW piece, calculating the .49, roughly 1 for 2 swap). This is laughable but apparently legal. I would laugh but am still to angry with DK for pulling off this scam. But what we CAN do is take over $40 in mid April for DK shares when they reach that level, imo. I will do precisely that watching RSI for overbought...

GLTA!
-pete

[jugs]

Just got my tax workup (k-1) for previously held ALDW units.

Interestingly, ALON USA Partners is featured on the large envelope in the upper left indicating ALON was the sender. Within the material there's reference to ALON in the present tense giving the impression that DK and ALON continue to operate as independent entities when we know this cannot be the case. There's not a single reference to Delek or DK.

One would think DK is wishing to conceal something.

Really peculiar, huh?

[jugs]

I smell rotting flesh in that reply you've posted.

So tell me, Mr. Taxpayer supporting governmental agencies designed (supposedly) to protect your/our interests---how will you go about raising the thousands of $$$ (many?) with which to pay the attorney you select?

Pardon me while I puke, this is grossly unfair business.

[TNMopar]

I got a reply that has a little more information but not sure it really helps us.

Thank you for contacting the U.S. Securities and Exchange Commission (SEC).

You question the decision by Alon USA Partners, LP not to pay distributions prior to its merger with Delek US. Please note that a master limited partnership's decision whether to pay a distribution involves matters of corporate governance, which are governed by the corporate law of the company's state of incorporation. Most corporate decisions fall within the purview of a company’s management and board of directors subject to, among other things, applicable fiduciary obligations. Generally, management and directors are afforded broad latitude in the manner in which they conduct the business affairs of the company. However, there may be situations in which a company's management or directors make a decision that breaches their fiduciary obligations to the company and/or its shareholders. If you believe that is the case here, you may wish to consult a private attorney about any legal remedies that may be available to you under state corporate law. If you need help finding an attorney, please visit https://www.sec.gov/answers/lawref.htm.

As noted in our Investor Bulletin regarding Master Limited Partnerships, investors must pay the applicable taxes, even if the MLP does not provide the investor with cash distributions, see https://www.sec.gov/oiea/investor-alerts-bulletins/ib_mlpintro.html.

The SEC processes many comments from individual investors and others. We keep records of the correspondence we receive in a searchable database that SEC staff may make use of in inspections, examinations, and investigations. In addition, some of the correspondence we receive is referred to other SEC offices and divisions for their review. If they have any questions or wish to respond directly to your comments, they will contact you.

Sincerely,

Katherine Shiu
Attorney
Office of Investor Education and Advocacy
U.S. Securities and Exchange Commission
[phone]
http://www.sec.gov
www.investor.gov
www.twitter.com/SEC_Investor_Ed

[jugs]

Not looking especially promising from here.

[pete807]

I got this reply:

Thank you for contacting the U.S. Securities and Exchange Commission (SEC).

The SEC’s Office of Investor Education and Advocacy processes many comments from individual investors and others. We keep records of the correspondence we receive in a searchable database that SEC staff may make use of in inspections, examinations, and investigations. In addition, some of the correspondence we receive is referred to other SEC offices and divisions for their review. If they have any questions or wish to respond directly to your comments, they will contact you.

Thank you for communicating your views.

Sincerely,

Lisa Skrzycki
Attorney
Office of Investor Education and Advocacy
U.S. Securities and Exchange Commission
[phone]
www.sec.gov
www.investor.gov
www.twitter.com/SEC_Investor_Ed

[pete807]

When you start with next to nothing 50% more is next to nothing also!

The treasury bonds in an era of FREE money to banks too big to fail, but will borrow you that free money, was higher than the DK distribution. Were is the incentive? Don't tell me about great appreciation after the last 30 days of price destruction in our stocks!

Now is not the time to panic and I am not, but companies like DK don't deserve the value they did not earn fairly... I guess the lawyers will have to sort it.

I moved on except for 330 shares.... of low hanging fruit......

[jugs]

Much has been said about the 33% divvy increase from DK. Some investors seem to have swooned at the enormous gifting.

I wonder how widely it's known that in Q2 of 2015, DK saw fit to increase the dividend by no less than 50%!!!

[pete807]

I believe we will need to direct complaints to Tennessee if we are to validate any complaint against the GP taking over and killing all information we feel entitled to. The timing is the issue we should be able to validate. Remember DK will claim they included ALDW in their 5 cent raise to their paltry dividend. IMO their legal team will brag... 33% raise! This month DK went ex on the 9th and pay on the 25th. Last November they went ex on the 21st and paid on Dec. 15, 2017.

This quote comes from Edgar filing DEFM14A

In the Q&A section

Q. What happens to future distributions with respect to ALDW Public Units?

A. If the date of the closing of the Merger is prior to the record date set by the Delek Board in connection with declared dividends, if any, to be paid by Delek to its stockholders, former ALDW Common Unitholders would receive any such dividends on the Delek Common Stock they receive in the Merger if the Merger is consummated before the record date for such dividends. If the date of the closing of the Merger is after the record date set by the Delek Board in connection with declared dividends to be paid by Delek to its stockholders, then a former ALDW Common Unitholder will not receive dividends for that quarter on the Delek Common Stock it receives in the Merger, but will receive distributions for that quarter declared by ALDW (if any) prior to the closing of the Merger, if such former ALDW Common Unitholder was a record holder of such ALDW Common Units on the record date with respect to such distribution. ALDW and Delek will endeavor to coordinate regarding the declaration of any dividends or distributions during the period from the execution of the Merger Agreement to the date that the Merger is consummated with the intent that no ALDW Public Unitholder will fail to be entitled to receive any quarterly distribution by ALDW unless it becomes entitled to receive a quarterly dividend from Delek in respect of the same period. See "Market Prices, Dividend and Distribution Information."

https://www.sec.gov/Archives/edgar/data/1556766/000104746918000082/0001047469-18-000082-index.htm
GLTA!
-pete

[pete807]

There are two separate issues and I recommend calling the SEC for clarification into which issue your question falls. In my opinion we will receive a K-1 that will ignore the final 3 months of 2017 and the lawyers for DK are prepared to back them up.

I questioned the fact that there does not appear to be the usual emails regarding legal action, and the SEC cannot and will not get into any discussions of legality with us. The SEC is interested in reporting only or lack thereof as far as violations. States are the place to direct shareholder rights issues.

I have no findings and have nothing to add, except anyone can access all the filings involving ALDW. The latest was Feb 20, 2018.

Go to the web site Edgar, which will have SEC at the top also.
In the search box type ALDW and you will find all the filings, which are long and in legalese.
Good Luck!

[jugs]

This is the best place to post your findings, in my opinion. I'd encourage your doing just that as we may have a larger audience than we could know. This is also DK news-worthy material and I'd be duplicating the post (s) as this information could be very helpful to many.

As it happens, I sold off some Delek every day this week and part of last week. It seems to me that it's just a matter of time before we get wind of public announcements indicating that the SEC is questioning and/or challenging Delek of having engaged in unfair trading practices. Should that happen, I'd not want to be holding much DK as it would almost certainly fall prey to a severe drop inasmuch as the rules violations are not unlike low-hanging fruit.

[pete807]

I sent a couple of the top posters here a private message with regards to the ongoing dispute we have with the GP.
If anyone wishes more information regarding ALDW please post the question here. ALDW was delisted and the new owner of our units is DK, a Tennessee corporation. ALDW was a Texas corporation.
Those two states are the focus of our rights issue.
-pete

[jugs]

This is what I did last week, approaching Ameritrade with the same items on my plate---the K-1 and also the absence of any guidance whatsoever.

[pete807]

Damn quiet on the illegal combining of the books by DK with this company from Oct 1. February 7...
No nothing behind the ambulance here!
There are no doubt millions of dollars at stake!
And what do you suppose the K-1 that we all will get will say, and how can they disguise the truth?
I spoke to the brokerage today and alerted them that the K-1 would likely be phony or non existent.
Their legal team will be advised. I suggest everyone alert their brokerages.
All we can do is keep barking!

[pete807]

Good work, I don't know a time frame on progress to be expected or resolution but TNM seems more informed on the building of this case in terms of numbers of people, and the benefit of building that number.

I suspect you may be correct that the big money investment firms on the list I posted are strange in that they clearly include post closure transactions listed not under DK, but under ALDW even well into the middle of February... Just another dot we can connect, ....as IF the class action doesn't include the part of the 18% that was institutional, then it was small enough of a class to warrant the decision to ignore!!!

hmmm, lets get the lawyers to ask for more than just our rightful distribution... This was like a hot cup of coffee dumped on us causing severe burns. :0)

[jugs]

The complaint form presented by the Texas Securities Board requires what they call a summary of the protester's complaint. Follow is an exact duplicate of what I've now submitted. Use it as you will. Naturally I'll keep everyone apprised of any developments forthcoming.



Throughout my four years of involvement with ALDW it was common practice for that company to issue guidance on a quarterly basis so as to equip partners with important information by which to manage his/her investment. Quarters 4 and 1 (of 2018) are the only times when such information was not directed to unitholders. Delek assumed control over all matters connected to Alon Partners.

Hurricane Harvey proved devastating for area refiners. In its most recent SEC filing, DK admits that ALDW refining assets contributed massively to Delek's bottom line improvement amounting to a 129% improvement. Higher commodity prices and improved crack spread also contributed to the overall increased valuation. Delek has made it known that ALDW assets were not impaired as a result of the storm affecting other area refiners. It is for this reason that the media and analysts covering commodities formed a consensus leading to greatly improved distribution expectations.

At the time of announcement of the intended merger between Delek US and Alon US, it was stipulated that upon completion of the merger, ALDW unitholders would receive 0 ,49% of a DK share for two ALDW units. ALDW unitholders holding onto their positions had to have done so for the sake of pending distributions. When the (roughly) two-for-one conversion was announced, stock of both companies proceeded to move in lock-step with one another and there could be no advantage in owning ALDW other than for the lure of the distributions.

There were a number of larger institutional investors dating back to October and running through to the end of 2017 which added to preexisting positions. It would not make sense for them to enter the combined entity consisting of ALDW and DK were it not for the opportunity to capture ALDW distributions. It is my belief that there were back-room discussions occurring between certain institutional investors in a laundering scheme designed to defraud the retail investor.

Keith Johnson, Delek's Vice President of Investor Relations, failed to follow up on my phone calls to his office prior to my finally being able to find him answering his phone. When I asked about the distributions in question, he told me there would be no further distributions. Asking how this could be the case, he reminded me that Delek is now in charge of all things formerly under the purview of ALDW. He added that this became the fact as of February 7th when the merger was officially declared finalized. I told him that this signing occurred well after the dates of coverage under our discussion. He said nothing more.

I then told him I believed it unlawful to blend assets or to back-date things so as to have them appear to be covered by the 2/7/18 signing. He said he'd have "legal" contact me about that. I've not heard back and doubt I will.

MLPs are required to distribute 90% or more of their gains to unitholders who are then taxed appropriately. I can only wonder if any tax on the massive gains incurred by Delek is even scheduled for recognition.

Finally, it seems to me that Delek has willfully chosen to disregard any and all obligations due (former) ALDW unitholders. For this reason I ask for your help in bringing this situation out into the open.
___________________________________________________
pete807, speaking out strongly in support of a person's belief system is never to become an object to be addressed as a rant. Rants typically are excursions away from reasonable assertions.

You, my wonderful friend, have hardly drifted away from a very important subject now under discussion on this board and, I'm sure, in our respective homes. Your position holds that we unitholders in what was formerly ALDW have been wronged as I'm sure we have, too. It is to be expected that we are justifiably angry. And certainly you've been right all along in expecting DK would pull this stunt.

Most investors probably would not squawk. There's an old saying about bending over. I'm thinking DK operatives had to have assumed we'd bend over with a smile on our cheeks. I'm not saying which set of cheeks. Now that DK's dastardly deed has been done, it is logical to assume management knew exactly how this would likely go down. And it may, indeed, unless enough of us band together and do all in our power to register our complaints. If we don't follow through on this, big business will continue to get away with devouring our money, our prosperity, our legal entitlements. Worst of all, I feel, is that we put ourselves on the line, taking chances as we have and while we survived handily, the fact remains that DK is engaged in a feeding frenzy hoping to devour us still further.

[pete807]

Ditto TNM
We are 100% in the right and we are not giving up the fight. You clearly stated the facts and issues so anyone reading can copy and paste it into the form. Just change the number of shares although in my case I din't tell them other than I was an investor. Even a concerned citizen with no units should be compelled to fight for us little guys. Too much corporate theft and greed driven ends justify means BS happens every day.

I told jugs I am more of a skeptic, so I agree in hoping others join us and help bring this up to actionable level in the SEC enforcement world FAST. BUT I can wait as long as it takes if we hear they are pursuing a legal case against DK.

DK is clearly aware and not afraid of the SEC, and I hope that too is a mistake!!!

rant over

[TNMopar]

Awesome! I hope everyone on here will submit a complaint to the SEC. Also, I hope it makes a difference. GLTA!

[jugs]

No way! You've done a fantastic job of putting all this together. I could not be more emphatic. In fact, because of your presentation I made major changes in my own offering.

We need your input. You've crystalized things for me, definitely. And I suspect you've made things easier for many others.

All I can say is thanks to you for caring enough to share yourself with others here in what has become our investment community.

As for not having had clarity as to which company is to be held accountable? At some point early in this difficult process I believe every one of us was unsure. Even I had to question myself! It was only when the dust began to settle that I realized that DK holds the reins as DK has the books and ALDW no longer exists.

Don't make apologies, please. You are valuable to us all.

[jugs]

You've nailed key points. I couldn't be happier with your input.

My comments go further in some respects but may not offer more than color.


We need to hear back from some others on this, imo.

[TNMopar]

ALDW didn't withhold our distributions. DK did. According to DK's IR idiot, the signing on 2/7/18 voids all DK responsibilities thereof. He did not say we need to go back to ALDW with our questions or complaints. lol

This is one reason I don't post here often. It's not my goal to get laughed at for my lack of understanding the exact intention.

[TNMopar]

Firm name Delek US Energy

Type of firm Public Company

Broker, Advisor, or Salesperson

Street address 7102 Commerce Way

Address (cont.)

City Brentwood

State/Province Tennessee

Zip/Postal code 37027

Country United States


Tell Us About Your Investment
Type of security Limited Parterships

Security symbol ALDW

Name of
Issuer or
Security

Below is the information I submitted in the "Tell Us About Your Complaint" area. I'm not sure it's completely accurate but it is as accurate as I understand the situation.

On Nov. 8th, 2017 Delek US (DK) announced i