On or around 06/15/2020 (Date of last review)
Filing Date: November 20, 2019
According to the Complaint, Energy Transfer operates as a subsidiary of LE GP, LLC. Energy Transfer provides energy-related services in the U.S. and China. The Partnership owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and approximately 12,200 miles of interstate natural gas pipelines. The Partnership sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Partnership’s business, operational and compliance policies. Specifically, the Complaint alleges Defendants 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; (ii) 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 (iii) as a result, the Partnership’s public statements were materially false and misleading at all relevant times.
This case was voluntarily dismissed on January 15, 2020. A related case continues under Docket 20-CV-00200 in the Eastern District of Pennsylvania.
On February 18, 2020, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on June 15.
Company & Securities Information
Defendant: Energy Transfer LP
Industry: Oil & Gas - Integrated
Headquarters: United States
Ticker Symbol: ET
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
William D Reinhardt, et al. v. Energy Transfer LP, et al.