According to the complaint, EQT deliberately misled Plaintiffs about what they could accomplish with their expanded acreage. Thus, Defendants represented that the Acquisition would allow them to increase the number of wells with long well bores—in particular, that they could drill 1,200 wells each with 12,000 feet of horizontal length—when they knew that the newly combined property was not capable of sustaining such a drilling program. Defendants also misstated the extent of what their cost savings would be, asserting that the efficiencies of the Acquisition would enable them to achieve “base” synergies of $2.5 billion, with total synergies reaching $7.5 billion, while no such savings were remotely achievable given EQT’s high-cost operations.
EQT Corporation Securities Litigation (2021)
Jun 17, 2021 | EQT Corporation Common Stock NYSE: EQT | Case Status: Filed
Filing Deadline: August 14, 2021
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First Identified Complaint
Scopia Windmill Fund LP, et al. v. EQT Corporation, et al.
First Identified Complaint Filings
|#||Document Title||Filing Date|
|1||Complaint and Jury Demand||June 15th, 2021|
|2||U.S. District Court Civil Docket||June 15th, 2021|