NEW YORK, May 24, 2022 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP and Halloran Farkas + Kittila LLP announce the Proposed Settlement in Inter-Marketing Group USA, Inc. v. PAA GP LLC and Plains All American Pipeline, L.P. (“Plains”) ( PAA), styled C.A. No. 2017-0030-PAF; Delaware Court of Chancery.
All investors and interested parties may reference these relevant documents:
- Stipulation and Agreement of Settlement, Compromise, and Release, dated April 27, 2022; and
- Notice of Pendency of Derivative Action, Proposed Settlement of Derivative Action, Settlement Hearing, and Right to Appear.
Additional settlement information is available in a United States Securities and Exchange Commission (“SEC”) Form 8-K filing issued by Plains All American Pipeline, L.P.
YOU MAY ALSO CONTACT THE FIRM AT THIS LINK.
On May 19, 2015, Plains experienced a crude oil release from its Las Flores to Gaviota Pipeline (Line 901), a 10-mile underground pipeline in Santa Barbara County, California. The spill resulted in severe damage to the local environment and wildlife and eventually the company would be convicted of eight misdemeanors and a felony in California. In this settlement, Plains’s General Partner, PAA GP LLC, has agreed to substantial therapeutic relief to strengthen the Company’s safety culture and regulatory compliance, including the
(1) maintenance of a Health, Safety, Environmental and Sustainability (“HSES”) Committee in its Board of Directors for at least six years,
(2) establishing a mechanism for employees to submit anonymous messages to the HSES committee, and
(3) the HSES having authority to investigate such submissions as well as retain outside counsel and subject matter experts.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities, multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at [email protected]
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Mark Rifkin, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected], [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4600
