Franklin D. Azar & Associates, P.C. announces that it is investigating a lawsuit filed against EQT Corporation (“EQT”) on behalf of EQT shareholders (NYSE ticker: EQT) alleging that EQT and certain of its officers violated the federal securities laws. EQT investors who have purchased at least 30,000 shares of EQT Common Stock are encouraged to contact the Azar Law Firm at email@example.com or call 844-241-9475 to learn more about the case.
The lawsuit alleges that unbeknownst to investors, EQT and its executives misled them between June 19, 2017 and October 24, 2018 (“the Class Period) about the prospects of billions of dollars in synergies and cost savings resulting from the acquisition of Rice Energy Inc. The lawsuit also alleges that EQT issued a steady stream of materially false and misleading reassurances about the potential for “significant operational synergies” after activist investor JANA Partners LLC called the company’s claims “blatantly deceptive.” Then, five months after the conclusion of the acquisition, EQT’s CEO resigned suddenly and unexpectedly. Further, the lawsuit alleges that when the truth was finally disclosed to investors on October 25, 2018, the price of EQT Common Stock declined approximately 13%, from $40.46 per share to $35.34 per share, erasing nearly $700 million of the Company’s market capitalization and shareholder value. Over the following days, EQT shares declined to as low as $31.00. Share prices were less than half the value they had been at the acquisition of Rice Energy. EQT shareholders lost hundreds of millions of dollars. The lawsuit seeks to recover this loss for shareholders who purchased stock during the Class Period.
If you have purchased at least 30,000 shares of EQT Common 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 the Azar Law Firm’s shareholder rights team at firstname.lastname@example.org or call 844-241-9475
The Azar Law Firm’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. The Azar Law Firm is working with Thornton Law Firm LLP in investigating this action. 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.