Shareholder Alert: Robbins LLP Announces Energy Transfer LP (ET) Sued for Misleading Shareholders
November 25 2019 - 8:10PM
Business Wire
Shareholder rights law firm Robbins LLP announces that a
purchaser of Energy Transfer LP (NYSE: ET) filed a class action
complaint for alleged violations of the Securities Exchange Act of
1934 between February 25, 2017 and November 11, 2019. Energy
Transfer provides energy-related services in the United States and
China. One of its projects includes the Mariner East pipeline, a
multibillion-dollar pipeline project to carry highly volatile
natural gas liquids across Pennsylvania.
If you suffered a loss as a result of Energy Transfer's
misconduct, click here.
Energy Transfer LP (ET) Accused of Bribery
According to the complaint, in February 2017, the Pennsylvania
Department of Environmental Protection approved water-crossing and
sedimentation permits for the Mariner East 2 pipeline, which was
believed to be the final regulatory hurdle to begin construction of
the pipeline. What Energy Transfer's investors didn't know,
however, was that Energy Transfer's permits were secured via
bribery and other improper conduct. This wrongdoing became public
knowledge on November 12, 2019, when the Associated Press reported
that Energy Transfer's Mariner East pipeline project was under
investigation by the Federal Bureau of Investigation relating to
"the permitting of the pipeline, whether [Pennsylvania Governor
Tom] Wolf and his administration forced environmental protection
staff to approve construction permits and whether Wolf or his
administration received anything in return." On this news, Energy
Transfer stock fell almost 7% to close at $11.16.
Energy Transfer LP (ET) Shareholders Have Legal
Options
Contact us to learn more: Leo Kandinov (800) 350-6003
lkandinov@robbinsllp.com Shareholder Information Form
Robbins LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action
lawsuits, and has helped its clients realize more than $1 billion
of value for themselves and the companies in which they have
invested. Click here to receive free alerts from Stock Watch when
companies engage in wrongdoing.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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version on businesswire.com: https://www.businesswire.com/news/home/20191125005873/en/
Leo Kandinov Robbins LLP 5040 Shoreham Place San Diego, CA 92122
lkandinov@robbinsllp.com (619) 525-3990 or Toll Free (800) 350-6003
www.robbinsllp.com
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