Well, I'd imagine we've all been waiting to see if class actions ensue following the announced big swallow by DK pending. And today the news is that there's a class action forming.
When the news came out, I reduced my holdings to about half and now continue to hold 10,120 units of ALDW. Needless to say, these are irrationally exuberant pieces of a not very complicated puzzle, having appreciated most handsomely over the past month or so. Even more interesting, though, is what's transpired as a result of liquefying a lot of units, readying them for redeployment...
Positions were taken in Delek, Delek Logistics---the MLP operated by DK, NGL, the MLP I've been in for several years, and I launched positions in ETP and EPD. Without exception, each of the aforementioned has performed admirably with DK leading the way thanks to a $12,000 gain on just 2,100 shares.
While I understand the point of a lawsuit is to make money, I have a problem when it comes to stiffing the system and other people. I can't justify participating in a class action when I haven't been damaged, it's really that simple. And I have no grudge towards DK, ALDW or really...any of the companies in which I invest.
I'm not feeling like a victim and, furthermore, I'd hate to think that I could become part of an organized hate mob existing solely for the purpose of lining attorney pockets...and all this, mind you, in the guise of playing the role of victim. I'm hardly a victim!
I've not been damaged by the acquisition of ALDW. If anything, it moved me to take a number of actions, all of which have resulted in surprisingly grand gains. And I see it as no small matter on another level---for I know many followers get the news of our new picks before more casual readers will and I take great pride and satisfaction in the knowledge that they, too, are prospering. Legal matters such as is being proposed cost a lot of money to be borne by DK and I can't escape the fact that it will trickle down and bite us all in the butt.
Your arguments are invited, as always.
