NEW YORK, Oct. 08, 2015 (GLOBE NEWSWIRE) -- 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:
or contact Joseph E. Levi, Esq. via email at email@example.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.
CONTACT: Levi & Korsinsky, LLP Joseph E. Levi 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
Source:Levi & Korsinsky, LLP