Mass. Retirement Fund Sues EQT for Plummeting Stock Price

click for larger version

The Cambridge (Massachusetts) Retirement System is not happy with their investment in EQT shares of stock, so they’re suing the company. They hope to turn the lawsuit into a class action on behalf of other shareholders. Cambridge claims EQT made false and misleading statements about their purchase of Rice Energy–claims about cost efficiencies that never materialized, and claims about the location of Rice leases that were not as close to EQT’s acreage as claimed. In a word, Cambridge is alleging fraud on the part of EQT.

Please Login to view this content. (Not a member? Join Today!)
You do not have permission to view the comments.

Please Login to post a comment