INVESTIGATION ALERT: Scott+Scott Attorneys at Law LLP Investigates Energy Transfer LP Unit’s Directors and Officers for Breach of Fiduciary Duties – ET

NEW YORK--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, is investigating whether certain directors and officers of Energy Transfer LP Unit (“Energy Transfer”) (NYSE: ET) breached their fiduciary duties to Energy Transfer and its shareholders. If you are an Energy Transfer shareholder, you may contact attorney Joe Pettigrew for additional information toll-free at 844-818-6982 or [e-mail].

Scott+Scott is investigating whether members of the Energy Transfer Board of Directors (the “Board”) made, or caused Energy Transfer to make, false and/or misleading statements, as well as fail to disclose material adverse facts about Energy Transfer’s business, operations, prospects, and financial health. Specifically, Scott+Scott is investigating whether the Board failed to disclose material information, including whether: (a) Energy Transfer had inadequate internal controls and procedures to prevent contractors from engaging in illegal conduct with regards to drilling activities, and/or failed to properly mitigate known issues related to such controls and procedures; (b) Energy Transfer, through its subsidiary Rover Pipeline, LLC, hired a third-party contractor to conduct Horizontal Directional Drilling Activities for the Rover Pipeline Project, whose conduct of adding illegal additives in the drilling mud caused severe pollution near the Tuscarawas River when a large inadvertent release took place on April 13, 2017; (c) Energy Transfer continually downplayed its potential civil liabilities when the Federal Energy Regulatory Commission (“FERC”) was actively investigating Energy Transfer’s wrongdoings related to the April 13 release and consistently provided it with updated information about FERC’s findings on this matter; and (d) as a result, statements about Energy Transfer’s business, operations, and prospects lacked a reasonable basis.

On August 8, 2019, Energy Transfer filed a quarterly report with the Securities and Exchange Commission, disclosing that FERC had begun a formal investigation of Energy Transfer in mid-2017, while downplaying the importance of the investigation. On December 16, 2021, FERC issued findings and a proposed $40 million fine against Energy Transfer.

What You Can Do

If you are an Energy Transfer shareholder, you may have legal claims against Energy Transfer’s directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew toll-free at 844-818-6982 or [e-mail].

About Scott+Scott Attorneys at Law LLP

Scott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, and Ohio.

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