Plains All American Pipeline, L.P. / Plains GP Hol
| Company Name | Plains All American Pipeline, L.P. / Plains GP Hol |
| Stock Symbol | NYSE:PAA / NYSE:PAGP |
| Class Period | February 27, 2013 to August 05, 2015 |
| Lead Plaintiff Motion Deadline | October 16, 2015 |
The Firm is investigating potential claims on behalf of investors of Plains All American Pipeline, L.P. and Plains GP Holdings, L.P. ("PAA" or the "Company") (NYSE:PAA) (NYSE: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 GPM 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 of 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, have information or would like to learn more about these claims including whether you qualify to serve as a class representative, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley F. Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224 or by email to shareholders@glancylaw.com.
Submit Your Information
If you suffered a loss on your Plains All American Pipeline, L.P. / Plains GP Hol investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.