Energy Transfer Shareholder Alert: Should Management be Held Accountable for Investors Losses? Contact Johnson Fistel
Johnson Fistel, LLP is investigating potential claims on behalf of Energy Transfer LP (“Energy Transfer” or the “Company”) (NYSE: ET) against certain of its officers and directors.
If you are a current, long-term shareholder of Energy Transfer holding shares before April 13, 2017 you may have standing to hold Energy Transfer harmless from the alleged harm caused by the Company’s officers and directors by making them personally responsible. You may also be able to assist in reforming the Company’s corporate governance to prevent future wrongdoing.
The filed complaint alleges that defendants made false statements and/or concealed that: (a) Energy Transfer had inadequate internal controls and procedures to prevent contractors from engaging in illegal conduct with regards to drilling activities, and/or failed to properly mitigate known issues related to such controls and procedures; (b) Energy Transfer, through its subsidiary Rover Pipeline, LLC, hired a third-party contractor to conduct Horizontal Directional Drilling Activities for the Rover Pipeline Project, whose conduct of adding illegal additives in the drilling mud caused severe pollution near the Tuscarawas River when a large inadvertent release took place on April 13, 2017; (c) Energy Transfer continually downplayed its potential civil liabilities when the Federal Energy Regulatory Commission (“FERC”) was actively investigating the Energy Transfer’s wrongdoing related to the April 13 release and consistently provided it with updated information about FERC’s findings on this matter.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471