Fed Judge Allows Investor Lawsuit Against ME2 Pipeline to Advance

In January 2020, the retirement systems for public employees of various cities, including the Allegheny County Employees' Retirement System, filed a lawsuit against Energy Transfer and subsidiary Sunoco Logistics alleging top management made false and misleading statements about the construction of three Mariner East natural gas pipelines across Pennsylvania. The lawsuit alleges because of those statements, the share price of their stock fell and investors lost a boatload of money. Yesterday a federal judge in the Eastern District of Pennsylvania ruled some of the allegations made by the investors do not pass muster and dismissed them. However, the judge ruled other allegations do pass muster and therefore the remaining parts of the lawsuit can continue.

---

To view this content, log into your member account. (Not a member? Join Today!)