SEATTLE, Aug. 11, 2025 /PRNewswire/ -- JND Legal Administration

UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF PENNSYLVANIA

SUMMARY NOTICE OF (I) PROPOSED CLASS ACTION
SETTLEMENT; (II) SETTLEMENT HEARING; AND
(III) MOTION FOR ATTORNEYS' FEES AND LITIGATION EXPENSES

TO: all persons who purchased or otherwise acquired common units of Energy Transfer LP ("Energy Transfer") between February 25, 2017, and November 11, 2019, inclusive (the "Class Period")¹:

PLEASE READ THIS NOTICE CAREFULLY. YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.

YOU ARE HEREBY NOTIFIED, that Lead Plaintiffs Allegheny County Employees' Retirement System, Employees' Retirement System of the City of Baton Rouge and Parish of East Baton Rouge, Denver Employees Retirement Plan, International Association of Machinists and Aerospace Workers National Pension Fund, and Iowa Public Employees' Retirement System (together, "Lead Plaintiffs"), on behalf of themselves and the Court-certified Class, have reached a proposed settlement of the above-captioned securities class action (the "Action") for $15,000,000 in cash (the "Settlement"). If approved, the Settlement will resolve all claims in the Action.

The Action involves allegations that Energy Transfer and certain of its senior officers violated federal securities laws. Lead Plaintiffs allege, among other things, that Defendants made material misrepresentations and omissions during the Class Period about Energy Transfer's construction of a set of pipeline projects across Pennsylvania, consisting of the Mariner East 2, Mariner East 2X, and Revolution pipelines, in violation of Section 10(b) of the Securities Exchange Act of 1934 (the "Exchange Act"), and that the executive defendants controlled Energy Transfer when the misstatements were made, in violation of Section 20(a) of the Exchange Act. Defendants² deny all allegations in the Action and deny any violations of the federal securities laws. 

A hearing will be held on October 7, 2025, at 1:00 p.m., before the Honorable Gerald A. McHugh of the United States District Court for the Eastern District of Pennsylvania, in Courtroom 9B of the James A. Byrne U.S. Courthouse, 601 Market Street, Philadelphia, PA 19106, to determine: (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation (and in the Settlement Notice) should be granted; (iii) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (iv) whether Lead Counsel's application for an award of attorneys' fees and expenses should be approved.

If you are a member of the Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Net Settlement Fund. This notice provides only a summary of the information contained in the full Notice of (I) Proposed Class Action Settlement; (II) Settlement Hearing; and (III) Motion for Attorneys' Fees and Litigation Expenses (the "Settlement Notice"). You may obtain copies of the Settlement Notice and the Claim Form by contacting the Claims Administrator at: Energy Transfer Securities Litigation, c/o JND Legal Administration, P.O. 91415, Seattle, WA 98111; (844) 717-0724; info@EnergyTransferSecuritiesLitigation.com. Copies of the Settlement Notice and Claim Form can also be downloaded from the Settlement website, EnergyTransferSecuritiesLitigation.com.

If you are a member of the Class, in order to be eligible to receive a payment from the Settlement, you must submit a Claim Form postmarked (if mailed) or online by no later than November 28, 2025. To submit a claim online, visit EnergyTransferSecuritiesLitigation.com. If you are a Class Member and do not submit a proper Claim Form, you will not be eligible to receive payment from the Settlement, but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.

Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel's motion for attorneys' fees and expenses must be filed with the Court and delivered to Lead Counsel and Defendants' Counsel such that they are received no later than September 16, 2025, in accordance with the instructions set forth in the Settlement Notice.

Please do not contact the Court, the Office of the Clerk of the Court, Defendants, or their counsel regarding this notice. All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to the Claims Administrator or Lead Counsel.

Requests for the Settlement Notice and Claim Form should be made to:

Energy Transfer Securities Litigation
c/o JND Legal Administration
P.O. Box 91415
Seattle, WA 98111

(844) 717-0724
info@EnergyTransferSecuritiesLitigation.com
EnergyTransferSecuritiesLitigation.com

Inquiries, other than requests for the Settlement Notice and Claim Form, should be made to Lead Counsel:

Adam H. Wierzbowski
Bernstein Litowitz Berger & Grossmann LLP
1251 Avenue of the Americas, 44th Floor
New York, NY 10020
(800) 380-8496
settlements@blbglaw.com

Jeffrey W. Golan
Barrack, Rodos & Bacine
3300 Two Commerce Square
2001 Market Street
Philadelphia, PA 19103
877-386-3304
ETsettlement@barrack.com

By Order of the Court

¹ Before October 19, 2018, Energy Transfer LP was known as Energy Transfer Equity, L.P. and its common unit ticker symbol was ETE. On October 19, 2018, Energy Transfer Equity, L.P. changed its name to Energy Transfer LP and changed its common unit ticker symbol to ET. Certain persons and entities are excluded from the Class by definition and others are excluded pursuant to their prior request. The full definition of the Class including a complete description of who is excluded from the Class is set forth in the full Settlement Notice referred to below.
² Capitalized terms not otherwise defined herein shall have the same meaning as in the Stipulation and Agreement of Settlement dated June 12, 2025 ("Stipulation"). The Stipulation can be viewed and/or obtained at EnergyTransferSecuritiesLitigation.com. 

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SOURCE JND Legal Administration