An investigation on behalf of current investors in Williams Pipeline Partners L.P. (NYSE:WMZ) concerning shareholder claims over possible breaches of fiduciary duty by the board of directors of Williams Pipeline Partners L.P. was announced.

The investigation by law firm focuses on potential breaches of fiduciary duty and other violations of state law by the Board of Directors of Williams Pipeline Partners arising out of their attempt to merge Williams Pipeline Partners L.P. (Public, NYSE:WMZ) with Williams Partners L.P. (NYSE: WPZ). Williams Pipeline Partners L.P., located in Tulsa, OK, was established by The Williams Companies, Inc. to own and operate natural gas transportation and storage assets. Williams Pipeline Partners L.P. reported in 2007 a Net Income of $ 153.90million, in 2008 $51.88million, and in 2009 $50.82million.

On Monday, May 24, 2010, Williams Pipeline Partners L.P. (NYSE: WMZ) and Williams Partners L.P. (NYSE: WPZ) announced that they have signed a merger agreement under which public WMZ common unitholders will receive 0.7584 WPZ common units for each WMZ common unit they own at the effective time of the merger. Shares of Williams Pipeline Partners L.P. (WMZ) declined from $27.67 to $26.91 per share after the announcement. WMZ stock was traded at $30.37 per share as early as May 13, 2010, and at $31.83 per share on May 03, 2010.

The investigation by a law firm concerns whether the Williams Pipeline Partners L.P. Board of Directors breached their fiduciary duties to Williams Pipeline Partners (WMZ) stockholders by failing to adequately shop the Company prior to entering into the agreement, whether the Board of Directors breached their fiduciary duties by not seeking a deal that would provide better value Williams Pipeline Partners L.P. (NYSE:WMZ), and whether Williams Partners L.P. is underpaying for Williams Pipeline Partners L.P. (WMZ), thus unlawfully harming WMZ stockholders.