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EQT Investors’ Class Approved in Lawsuit Over Rice Energy Merger

Aug. 12, 2022, 5:22 PM

Three institutional investors may represent a class of EQT Corp. shareholders on claims the natural gas producer misrepresented “synergies” and other cost savings from its acquisition of Rice Energy Inc., a federal court in Pennsylvania ruled.

Key issues in the case, including investors’ reliance on EQT’s statements, are capable of common resolution, Judge Robert J. Colville said Thursday for the US District Court for the Western District of Pennsylvania.

The investors allege that EQT, which claims to be the largest natural gas producer in the US based on daily sales volume, sought to acquire rival Rice for $6.7 billion. ...