We are investigating possible breaches of the limited partnership agreement, fiduciary duty, and other violations of law by the board of directors of TC PipeLines, LP (“TCP” or the “Partnership”) (NYSE: TCP) in connection with the proposed interested-party acquisition of the Partnership by TC Energy Corporation (“TRP”), pursuant to which TRP will acquire all of the minority units of TCP that it does not already own.  Under the terms of the acquisition agreement, TCP unitholders will receive 0.70 shares of TRP common stock for each TCP unit that they hold, representing implied per-share merger consideration of $30.95 based upon TRP’s December 14, 2020 closing price of $44.21.

In light of the fact that TRP already controls 24% of TRP’s common units, WeissLaw is investigating whether TCP’s board was truly independent and fully informed as to the valuation of the proposed acquisition of the Partnership, whether the board acted in the best interest of TCP minority unitholders in agreeing to the proposed transaction, and whether all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed to TCP unitholders.  Notably, the Company’s 52-week high trading price was $44.65, nearly $14.00 more than the implied per-share merger consideration.\n\nWeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com