A Delaware Court of Chancery judge on Thursday refused to cancel a 2016 deal in which Energy Transfer Equity issued $1 billion in equity units, finding there had been no harm to investors. At the same time, however, Vice Chancellor Sam Glasscock III said the transaction was unfair.

Dallas-based ETE claimed the decision as a win, telling investors that Glasscock had ruled in its favor by denying a request from a proposed class of investors that the issuance be rescinded. According to ETE, conversion of the units will go forward as scheduled on May 21.