The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased (a) common units of Plains All
American Pipeline, L.P. (NYSE:PAA) between February 27, 2013 and August
4, 2015; (b) Class A shares of Plains GP Holdings, L.P. (NYSE:PAGP)
between October 16, 2013 and August 4, 2015; (c) Plains Holdings’ Class
A shares traceable to the Initial Public Offering; or (d) Plains
Holdings’ Class A shares traceable to the November 2014 secondary
offering.
You are hereby notified that a class action has commenced in the
USDC for the Central District of California. To learn more go to:
http://zlk.9nl.com/plains-all-american-pipeline-paa
or contact Joseph E. Levi, Esq. via email at jlevi@zlk.com
or by telephone at (877) 363-5972. There is no cost or obligation to
you.
The complaint alleged that defendants failed to disclose the lack of
integrity concerning the Companies’ pipeline operations as well as their
lack of compliance with federal regulations. The complaint cites that
executives of Plains qualified 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 but was called a small spill with
approximately 2,400 barrels released into the Pacific coastline.
However, on August 5, 2015, defendants announced that the spill was much
greater than initially estimated and that the U.S. Department of Justice
had initiated a criminal investigation.
If you suffered a loss in Plains All American or Plains GP Holdings
you have until October 16, 2015 to
request that the Court appoint you as lead plaintiff. Your ability to
share in any recovery doesn’t require that you be a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New
Jersey, Connecticut and Washington D.C. The firm’s attorneys have
extensive expertise in representing investors throughout the nation in
securities and shareholder lawsuits. Attorney advertising. Prior results
do not guarantee similar outcomes.
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