July 16, 2019
Optimistic and "aspirational" statements by Plains All American Pipeline LP about the condition of a California pipeline that broke in 2015 and caused an oil spill aren't enough to revive a shareholder lawsuit accusing the company of being misleading, the Fifth Circuit said Tuesday.
September 11, 2018
Plains All American Pipeline LP, days after a jury found it criminally liable for a 2015 oil spill, has told the Fifth Circuit it should uphold a Texas district court's dismissal of a shareholder suit stemming from the same incident because the investors didn't prove it intended to mislead them about the pipeline's condition.