INVESTOR ALERT: Investigation of Plains All American Pipeline, L.P. & Plains GP Holdings, L.P. Announced by The Law Offices o...
26 August 2015 - 7:18AM
Business Wire
Law Offices of Howard G. Smith announces an investigation on
behalf of investors of Plains All American Pipeline, L.P. and
Plains GP Holdings, L.P. ("PAA" or the "Company") (NYSE:PAA, PAGP).
The investigation concerns whether the Company violated federal
securities laws by issuing materially misleading information
regarding its operations and safety standards. Investors that have
suffered over $100,000 in damages following the recent PAA
securities price decline are encouraged to contact Howard G. Smith,
Esq. to discuss their legal rights.
The investigation concerns whether the Company failed to
disclose the lack of safety and compliance measures in the
Company’s pipeline operations; while PAA executives characterized
its Line 901 pipeline off the coast of Santa Barbara, California as
“state of the art,” with an oil spill qualified as “extremely
unlikely.”
On May 19, 2015, Line 901 ruptured, causing a spill that damaged
miles environmentally sensitive and protected coastline in Santa
Barbara, California. The Company downplayed the impact of the spill
to investors, however the truth was that the spill’s impact was far
greater than PAA communicated to investors.
The truth was fully revealed on August 5, 2015, when defendants
announced that the Line 901 spill was much greater than initially
estimated and that the U.S. Department of Justice had initiated a
criminal investigation. In response to disclosures concerning the
spill and the truth about the Company’s operations, the price of
PAA securities have declined sharply in value.
If you purchased PAA securities and have suffered damages of
over $100,000, have information or would like to learn more about
these claims, or have any questions concerning this announcement or
your rights or interests with respect to these matters, please
contact Howard G. Smith, Esquire, of Law Offices of Howard G.
Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020
by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by
email to howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20150825006337/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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