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Investigation announced for Investors in shares of Plains GP Holdings, L.P. (NASDAQ: PAGP)

03-22-2021 10:40 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation for investors in Plains GP Holdings, L.P. (NASDAQ: PAGP) shares over potential securities laws violations.

An investigation for investors in Plains GP Holdings, L.P. (NASDAQ: PAGP) shares over potential securities laws violations.

An investigation was announced concerning potential securities laws violations by Plains GP Holdings, L.P. in connection with certain financial statements.

Investors who purchased shares of Plains GP Holdings, L.P. (NASDAQ: PAGP), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Plains GP Holdings, L.P. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Houston, TX based Plains GP Holdings, L.P. owns and operates midstream energy infrastructure in the United States and Canada. On February 9, 2021, Plains GP Holdings, L.P reported its fourth-quarter and full-year 2020 financial results. Plains GP Holdings, L.P. reporte dtha its annual Total Revenue declined from over $33.66 billion in 2019 to over $23.29 billion in 2020, and that its Net Income of $331 million of 2019 turned into a Net Loss of $568 million in 2020. Plains GP Holdings, L.P also reported fourth-quarter GAAP earnings-per-share of –$0.11, missing estimates by $0.33, and fourth-quarter revenues of $5.96 billion, representing a 34.9% year-to-year decline and missing estimates by $260 million.

Shares of Plains GP Holdings, L.P. (NASDAQ: PAGP) declined from $10.85 per share on January 14, 2021 to as low as $8.25 per share on February 18, 2021.

Those who purchased shares of Plains GP Holdings, L.P. (NASDAQ: PAGP) have certain options and should contact the Shareholders Foundation.

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 lawsuits, 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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