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Lawsuit filed for Investors in Energy Transfer LP (NYSE: ET) over alleged Misleading Statements

12-05-2019 06:02 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Energy Transfer LP (NYSE: ET) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in Energy Transfer LP (NYSE: ET) shares over alleged securities laws violations.

An investor in Energy Transfer LP (NYSE: ET) filed a lawsuit over alleged violations of Federal Securities Laws by Energy Transfer LP in connection with certain allegedly false and misleading statements.

Investors who purchased units of Energy Transfer LP (NYSE: ET) have certain options and for certain investors are short and strict deadlines running. Deadline: January 20, 2020. NYSE: ET investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Dallas, TX based Energy Transfer LP provides energy-related services in the United States and China. On February 13, 2017, the Pennsylvania Department of Environmental Protection ("PADEP") approved water-crossing and sedimentation permits for the Mariner East 2 pipeline, which would transport natural-gas liquids across Pennsylvania to a terminal in Marcus Hook. According to news sources, the permits were believed to be the final regulatory hurdle to begin construction of the pipeline.

On November 12, 2019, it was reported that that Energy Transfer's Mariner East pipeline project was under investigation by the Federal Bureau of Investigation ("FBI"). Citing interviews with current and former state employees, it was 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."

Units of Energy Transfer LP (NYSE: ET) declined to as low as $10.84 per share on November 13, 2019.

The plaintiff claims that between February 25, 2017 and November 11, 2019, the Defendants made false and/or misleading statements and/or failed to disclose that Energy Transfer's permits to conduct the Mariner East pipeline project in Pennsylvania were secured via bribery and/or other improper conduct, that 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 that as a result, the Partnership's public statements were materially false and misleading at all relevant times.

Those who purchased shares of Energy Transfer LP (NYSE: ET) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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