Six Years, Three Mediations, One Giant Settlement
After six years of litigation and three rounds of mediation, the parties landed on a $167.5 million cash settlement. If approved, it would stand as:
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The largest securities class action recovery in Western District of Pennsylvania history
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The 14th largest such recovery in the history of the Third Circuit
Attorneys for the investors hailed the outcome as not only significant in dollar value but a warning shot to corporate actors tempted to overstate merger benefits.
The Legal Titans Behind the Curtain
Plaintiffs’ Legal Team:
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Cohen Milstein Sellers & Toll PLLC: Steven J. Toll, Daniel S. Sommers, S. Douglas Bunch, Christina D. Saler, Benjamin F. Jackson
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Bernstein Litowitz Berger & Grossmann LLP: Salvatore J. Graziano, Adam H. Wierzbowski, Jesse L. Jensen, Robert Kravetz
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Comber Miller LLC: Michael A. Comber
Defense Team Representing EQT:
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Kirkland & Ellis LLP: Courtney Carvill, Lindsey Weiss Harris, Alexander J. Rodney, Ashley Paige Grolig, and others
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Kobre & Kim LLP: Danielle Rose, Genna Leigh Sinel, Martine Beverly Forneret
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Reed Smith: James L. Rockney
A Landmark Case with National Implications
As the October hearing approaches, market watchers, corporate attorneys, and institutional investors alike are keeping a close eye on this case. The outcome could reshape expectations for merger disclosures, corporate accountability, and how public companies manage investor trust in an age where perception can make or break billion-dollar deals.
For EQT, the $167.5 million price tag may just be the cost of restoring shareholder confidence—or the warning label for other energy giants navigating risky mergers in volatile markets.
