DENVER, CO / ACCESSWIRE / August 22, 2019 / Franklin D. Azar & Associates, P.C. announces that a lawsuit has been filed against EQT Corporation on behalf of EQT shareholders (NYSE:EQT). EQT investors who have purchased at least 500 shares of EQT stock between June 19, 2017 and October 24, 2018, and are interested to learn more about the case are encouraged to contact Franklin D. Azar & Associates, P.C. at securities@fdazar.com, or call 1-844-241-9475. The lawsuit also alleges claims on behalf of EQT and Rice Energy Inc. shareholders who held stock on September 21, 2017 and September 25, 2017.
Interested EQT shareholders have until August 26, 2019 to apply to be lead plaintiff. The lawsuit alleges violations of the federal securities laws, and the class has not yet been certified. Until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The lawsuit alleges that EQT made false statements regarding their acquisition of Rice, a rival gas producer, claiming that it would result in billions of dollars in synergies. Specifically, it is alleged that EQT represented the acquisition as an opportunity for EQT to achieve “a 50% increase in average lateral lengths” as Rice was portrayed as having an acreage footprint largely continuous to their existing acreage. As a result, EQT shareholders allegedly were led to believe this acquisition would result in $2.5 billion dollars in synergies. The lawsuit alleges Defendants failed to disclose issues related to the acreage to be acquired. It is alleged that EQT shares traded at artificially inflated prices, as a result of these false statements, before falling 13 percent when EQT reported surprisingly bad third-quarter financial results on October 24, 2018. The lawsuit seeks to recover this loss for shareholders who purchased during the Class Period.
If you have purchased at least 500 shares of EQT stock (NYSE:EQT), you may have a claim for damages, and you may be eligible to seek a position in the case as a lead plaintiff. Please contact Franklin D. Azar & Associates, P.C.’s shareholder rights team at securities@fdazar.com, or call 1-844-241-9475.
Franklin D. Azar & Associates, P.C.’s securities attorneys are highly experienced in representing individual shareholders and institutional investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of shareholders. Franklin D. Azar & Associates, P.C. is working with the Thornton Law Firm in investigating this case. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact Information:
Ivy Ngo
Franklin D. Azar & Associates, P.C.
14426 E. Evans Avenue
Aurora, Colorado 80014
Email: ngoi@fdazar.com
Tel: 1-844-241-9475
SOURCE: Franklin D. Azar & Associates, P.C.
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https://www.accesswire.com/557085/EQT-CORPORATION-SHAREHOLDER-INVESTIGATION-Class-Action-Lawsuit-Filed
