BENSALEM, PA — Law Offices of Howard G. Smith announced that a class action lawsuit has been filed on behalf of investors who purchased Energy Transfer LP (“Energy Transfer” or the “Company”) (NYSE: ET) securities between February 25, 2017 and November 11, 2019, inclusive (the “Class Period”). Energy Transfer investors have until January 21, 2020 to file a lead plaintiff motion.
Investors suffering losses on their Energy Transfer investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected]
On November 12, 2019, The Associated Press reported that Energy Transfer’s Mariner East project was under FBI investigation related to permits issued by Pennsylvania.
On this news, the Company’s share price fell $0.81, or nearly 7%, over two consecutive trading sessions to close at $11.16 per share on November 13, 2019, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors:
- Energy Transfer’s permits to conduct the Mariner East pipeline project in Pennsylvania were secured via bribery and/or other improper conduct;
- The foregoing misconduct increased the risk that the Energy Transfer and/or certain of its employees would be subject to government and/or regulatory action; and
- As a result, Energy Transfer’s public statements were materially false and misleading at all relevant times.
If you purchased Energy Transfer securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
Source: Law Offices of Howard G. Smith
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