Firm Announces Texas Suit Against Energy Transfer

November 30, 2019

International securities class action law firm Pomerantz LLP says it’s filed a lawsuit against Dallas’ Energy Transfer LP and some of its officers for what the firm calls “violations of the federal securities laws.”

The suit was filed in the United States District Court for the Northern District of Texas and efforts are underway those who purchased Energy Transfer shares between February 25, 2017 and November 11, 2019, who have until January 20th, 2020 to ask to be attached to the case as a plaintiff for the lawsuit.

Palmerantz claims in the suit that during the 2017-2019 period listed above, Energy Transfer or reps “made materially false and misleading statements regarding the partnership’s business, operational and compliance policies.

“Specifically, [they] made false and/or misleading statements and/or failed to disclose that: (i) 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 partnership and/or certain of its employees would be subject to government and/or regulatory action; and as a result, the partnership’s public statements were materially false and misleading at all relevant times.”

See the Pomerantz statement announcing the lawsuit here.