Fed Judge Certifies Class Action Investor Lawsuit Against ME2 Pipe

In January 2020, the retirement systems for public employees of various municipalities, including the Allegheny County (PA) 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 2 and the Revolution natural gas pipeline projects in Pennsylvania. The lawsuit alleges because of those statements, the share price of their stock fell, and investors lost a boatload of money. In April 2021, the lawsuit survived a motion to dismiss by Energy Transfer (see Fed Judge Allows Investor Lawsuit Against ME2 Pipeline to Advance). Yesterday the same federal judge who allowed the case to continue in 2021 certified the case to be converted into a class action. Let the (legal) sharks begin to feed...

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