Rice Brothers Sue EQT to Prevent Proxy Manipulation

In addition to EQT’s 1Q19 update yesterday, Toby and Derek Rice filed a lawsuit against EQT, alleging the company is trying to confuse shareholders by requiring some of board candidates the Rice boys are proposing get commingled with EQT’s own slate of candidates. The Rice boys say the lawsuit is aimed at “preventing EQT from manipulating shareholder election.” The Rices want to elect their own board, tossing out the existing board and following that, tossing out EQT’s current senior management.

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