Rice Energy Accused of Filing Misleading Registration Statement

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Rice Energy, Inc. and its board of directors have been accused of issuing a “materially incomplete and misleading” registration statement in connection with a potential merger between the company and EQT Corporation. In a proposed class action lawsuit against the natural gas and oil producer, a Rice Energy stockholder claims the transaction undervalues the company, which he says was “positioned for future success.” He argues that the defendants unlawfully failed to disclose details regarding the company’s financial projections and the analyses performed by its financial advisor to determine the fairness of the deal. The lawsuit claims the disclosure of this information is “imperative” to stockholders, who are entitled to vote on the merger before it's expected to close in the fourth quarter of 2017.