Mass. Retirement Fund Sues EQT for Plummeting Stock Price

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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.

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