Bernstein Litowitz Berger & Grossmann LLP and Cohen Milstein Sellers & Toll PLLC will lead a proposed stockholder class action against EQT Corp. over the company's alleged misrepresentations to investors about the benefits of its 2017 merger with Rice Energy, a Pennsylvania federal magistrate judge said Thursday.
Bernstein Litowitz and Cohen Milstein will jointly represent the Government of Guam Retirement Fund, the Northeast Carpenters Annuity Fund and the Northeast Carpenters Pension Fund, which said they collectively lost $2.17 million when EQT stock took a 13% dive after longer horizontal gas wells and operating efficiencies from the EQT-Rice merger failed to materialize in the company's earnings.
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In addition to representing investors in suits against Merck & Co. Inc. and Wells Fargo & Co., Bernstein Litowitz had worked with Cohen Milstein on cases such as the Bear Stearns Mortgage Pass-Through Certificates Litigation, the application for appointment as lead counsel said.
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Cambridge, Guam and the Northeast Carpenters funds are represented by M. Janet Burkardt, Jocelyn P. Kramer and Victor Kustra of Weiss Burkardt Kramer LLC, Gerald H. Silk, Hannah Ross, Avi Josefson and Michael D. Blatchley of Bernstein Litowitz Berger & Grossmann LLP, and Steven J. Toll and S. Douglas Bunch of Cohen Milstein Sellers & Toll PLLC.
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