November 19, 2019 - 7:15 AM EST
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Lawsuit for Investors in EQT Corporation (NYSE: EQT) shares announced by Shareholders Foundation

SAN DIEGO, CA / ACCESSWIRE / November 19, 2019 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in EQT Corporation (NYSE: EQT) shares.

Investors, who purchased shares of EQT Corporation (NYSE: EQT) in June 2017 or earlier and continue to hold any of their NYSE: EQT shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On June 19, 2017, EQT Corporation (NYSE:EQT) and Rice Energy Inc. (NYSE:RICE) announce that they have entered into an merger agreement under which EQT Corporartion acquired all of the outstanding shares of Rice Energy Inc common stock for total consideration of approximately $6.7 billion - consisting of 0.37 shares of EQT common stock and $5.30 in cash per share of Rice Energy Inc common stock. The value of the transaction, based on EQT's closing stock price as of June 16, 2017, was approximately $27.04 per Rice Energy share.

EQT Corporation claimed that as a result, the merger would result in $2.5 billion in synergies, including $100 million in cost savings in 2018 alone.

After the closing in November 2017, EQT Corporation continued to tout the "significant operational synergies" of the merger.

On March 15, 2018, just five months after the acquisition closed, EQT Corporation announced the sudden and unexpected resignation of its CEO.

Then, on October 25, 2018, EQT Corporation reported its third-quarter financial results caused by an increase in total costs, and disclosed that its estimated capital expenditures for well development in 2018 would increase by $300 million. As a result, the Company reduced its full-year forecast for 2018.

On June 25, 2019, a lawsuit was filed against EQT Corporation over alleged Securities Laws Violations. The plaintiff alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, 15 U.S.C. §§ 78j(b) and 78t(a), and SEC Rule 10b-5 promulgated thereunder, 17 C.F.R. § 240.10b-5, on behalf of investors who purchased EQT's common stock between June 19, 2017 and October 24, 2018. Furthermore, the plaintiff alleges violations of Sections 11, 12(a)(2), and 15 of the Securities Act of 1933, 15 U.S.C. §§ 77k, 77l, and 77o, on behalf of all persons who purchased or otherwise acquired EQT common stock in exchange for their shares of Rice common stock in the Acquisition.

Those who purchased EQT Corporation (NYSE: EQT) shares should contact the Shareholders Foundation, Inc.

CONTACT:

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.

SOURCE: Shareholders Foundation, Inc.



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https://www.accesswire.com/567201/Lawsuit-for-Investors-in-EQT-Corporation-NYSE-EQT-shares-announced-by-Shareholders-Foundation


Source: ACCESSWIRE Investor Awareness (November 19, 2019 - 7:15 AM EST)

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