The information contained on this website is only a summary of the information presented in more detail in the Notice of Pendency of Class Action. Because this website is just a summary, you should review the Notice for additional details.
Summary of the Action
This website relates to a pending securities class action lawsuit (the “Action”) against Energy Transfer LP (“Energy Transfer”), Kelcy L. Warren, Thomas E. Long, Marshall McCrea, and Matthew S. Ramsey (collectively, “Defendants”), which alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as well as Securities and Exchange Commission Rule 10b-5. The Action alleges that Defendants made materially misleading or false representations regarding Energy Transfer’s construction of a 350-mile set of pipeline projects across the Commonwealth of Pennsylvania, causing investors to purchase Energy Transfer common units at artificially inflated prices and to suffer damages when the truth was revealed.
Pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Eastern District of Pennsylvania (the "Court"), entered April 26, 2024, a Notice has been sent to inform potential members of the Class about the pendency of the Action, the Court’s certification of the Action to proceed as a class action on behalf of certain purchasers and acquirers of Energy Transfer common units, and Class Members’ legal rights and options.
The Action has not been settled and continues to be litigated. The Court has made no findings of fact, fault, or liability as to any of the current parties to the Action, and there is no judgment, settlement, or monetary recovery at this time. However, potential Class Members should understand how their rights may be affected.
The Class consists of:
All persons who purchased or otherwise acquired common units of Energy Transfer LP between February 25, 2017, and November 11, 2019, inclusive.
Excluded from the Class are: (i) Energy Transfer; (ii) any directors or officers of Energy Transfer during the Class Period and members of their immediate families; (iii) the subsidiaries, parents, and affiliates of Energy Transfer; (iv) any firm, trust, corporation, or other entity in which Energy Transfer has or had a controlling interest; and (v) the legal representatives, heirs, successors, and assigns of any such excluded party.
Please read the Notice to fully understand your rights and options. A copy of the Notice can be found in the menu at the top of this page.
| YOUR LEGAL RIGHTS AND OPTIONS IN THE ACTION |
| Do Nothing |
Stay in this lawsuit. Await the outcome. Give up certain rights.
By doing nothing, you keep the possibility of sharing in any recovery (monetary or otherwise) that may result from a trial or a settlement. But you give up any right you may have to sue Defendants separately about the issues and claims being raised in this lawsuit, and you will be bound by the outcome of this case.
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| Ask to be Excluded by July 16, 2024 |
Get out of this lawsuit. Get no benefits from it. Keep your rights.
If you ask to be excluded from this lawsuit, you will not be bound by what the Court does in this case and will keep any right you might have to sue Defendants separately about the same issues and claims being raised in this lawsuit. If a recovery is later awarded in this case, you would not share in that recovery.
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How do I obtain more information?
Detailed information about the Action is contained in the Notice, a copy of which can be found in the menu at the top of this page. Additional information can also be obtained by contacting the Notice Administrator by calling toll-free (844) 717-0724, emailing info@EnergyTransferSecuritiesLitigation.com, or mailing a letter to:
Energy Transfer Securities Litigation
c/o JND Legal Administration
P.O. Box 91415
Seattle, WA 98111
Inquiries should NOT be directed to the Court or the Clerk of the Court.
© JND Legal Administration. All rights reserved.
