Law Offices of Howard G. Smith announces an investigation on behalf of Energy Transfer LP (“Energy Transfer” or the “Company”) (NYSE: ET) investors concerning the Company’s possible violations of federal securities laws.
On August 8, 2019, Energy Transfer disclosed that in mid-2017, the Federal Energy Regulatory Commission (“FERC”) Enforcement Staff initiated a non-public formal investigation “regarding allegations that diesel fuel may have been included” in the drilling mud at the Tuscarawas River HDD [i.e., Horizontal Directional Drilling Activities].
On this news, Energy Transfer’s stock fell $0.65, or 4.6%, over two trading days to close at $13.38 per share on August 12, 2019, thereby injuring investors.
Then, on December 16, 2021, FERC publicly issued to Energy Transfer the Order To Show Cause and Notice of Proposed Penalty, directing the Company to show cause why it should not be assessed a civil penalty in the amount of $40 million. The order alleged that the HDD crews intentionally included diesel fuel and other toxic substances and unapproved additives in the drilling mud during its HDDs under the Tuscarawas River.
On this news, Energy Transfer’s stock fell $0.24, or 2.8%, over two trading days to close at $8.25 per share on December 20, 2021, thereby injuring investors further.
If you purchased Energy Transfer securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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Law Offices of Howard G. Smith
Howard G. Smith, Esquire