LOS ANGELES, July 03, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against EQT Corporation (“EQT” or “the Company”) (NYSE: EQT) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between June 19, 2017 and October 24, 2018, inclusive (the ''Class Period''), are encouraged to contact the firm before August 26, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. EQT announced on June 19, 2017, that it entered into an agreement to acquire Rice, a rival gas producer. The Company claimed the acquisition would allow it to achieve "a 50% increase in average lateral [drilling] lengths,” touting that the merger would produce $2.5 billion in synergies, and $100 million in savings for 2018. In fact, these synergies and cost savings were not realized. EQT reported poor third-quarter results on October 25, 2018, including increased total costs, disclosing that its estimated capital expenditures for well development would increase by $300 million in 2018. At the same time, the Company reduced its full-year forecast for 2018. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about EQT, investors suffered damages.
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