New York, New York--(Newsfile Corp. - January 15, 2020) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Energy Transfer LP (NYSE: ET) ("Energy Transfer" or the "Company") of the January 21, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi Logo
If you invested in Energy Transfer stock or options between February 25, 2017 and November 11, 2019 and would like to discuss your legal rights, click here: www.faruqilaw.com/ET. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com.
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
The lawsuit has been filed in the U.S. District Court for the Northern District of Texas on behalf of all those who purchased Energy Transfer securities between February 25, 2017 and November 11, 2019 (the "Class Period"). The case, Reinhardt v. Energy Transfer LP et al., No. 19-cv-02771 was filed on November 20, 2019, and has been assigned to Judge Ed Kinkeade.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Energy Transfer's permits to conduct the Mariner East pipeline project in Pennsylvania were secured via bribery and/or other improper conduct; (2) the foregoing misconduct increased the risk that the Partnership and/or certain of its employees would be subject to government and/or regulatory action, thereby depreciating the Partnership's unit value; and (3) as a result, the Partnership's public statements were materially false and misleading at all relevant times.
On November 12, 2019, the Associated Press published an article entitled "FBI eyes how Pennsylvania approved pipeline." Citing interviews with current and former state employees, the article reported that the FBI's investigation "involves 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's stock price fell $0.81 per share, or 6.77%, over the following two trading sessions, closing at $11.16 per share on November 13, 2019.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Energy Transfer's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/51487