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Energy Transfer LP


A securities class action has been filed against Energy Transfer LP (ET) on on behalf of a class consisting of all persons other than Defendants who purchased or otherwise acquired common shares of Energy Transfer stock between April 13, 2017 through December 20, 2021.  This case has been filed in the USDC – S.D.N.Y.

Throughout the Class Period, Defendants concealed and misrepresented 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 (“Rover”) hired third-party contractor to conduct Horizontal Directional Drilling Activities (“HDD”) for the Rover Pipeline Project (the “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 (the “April 13 Release”); (c) Energy Transfer continually downplayed its potential civil liabilities when the Federal Energy Regulatory Commission (“FERC”) was actively investigating the Partnership’s wrongdoing related to the April 13 Release and consistently provided it with updated information about FERC’s findings on this matter. These issues were foreseeably likely to subject Energy Transfer to increased governmental scrutiny and enforcement, as well as increased reputational and financial harm, and would also materially impact Energy Transfer’s financial results. These omissions and misrepresentations caused Energy Transfer’s stock price to trade at artificially inflated prices throughout the Class Period.

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Securities