IN RE PLAINS ALL AMERICAN PIPELINE, L.P.

Lead Case No. H:15-02404.

245 F.Supp.3d 870 (2017)

IN RE PLAINS ALL AMERICAN PIPELINE, L.P. SECURITIES LITIGATION

United States District Court, S.D. Texas, Houston Division.

Signed March 29, 2017.

Editors Note
Applicable Law: 28 U.S.C. § 1331
Cause: 28 U.S.C. § 1331 Fed. Question: Securities Violation
Nature of Suit: 850 Securities / Commodities
Source: PACER


Attorney(s) appearing for the Case

City of Birmingham Firemen's and Policemen's Supplemental Pension System, Plaintiff, represented by Roger Farrell Claxton .

Police and Fire Retirement System of the City of Detroit, Plaintiff, represented by Gerald H. Silk , Bernstein Litowitz Berger & Grossmann LLP, Jake Nachmani , Bernstein Litowitz Berger, Jeremy P. Robinson , Bernstein Litowitz Berger & Grossman LLP, pro hac vice, Thomas Robert Ajamie , Ajamie LLP & Luke O. Brooks , Robbins Geller Rudman Dowd LLP.

IAM National Pension Fund, Plaintiff, represented by Andrew M. Edison , Edison, McDowell & Hetherington, LLP, Angel P. Lau , Ashley M. Price , Robbins Geller Rudman Dowd LLP, pro hac vice, Danielle S. Myers , Robbins Geller Rudman & Dowd LLP, pro hac vice, Darryl J. Alvarado , Robbins Geller Rudman & Dowd LLP, pro hac vice & Luke O. Brooks , Robbins Geller Rudman Dowd LLP.

City of Warren Police & Fire Retirement System, Plaintiff, represented by Luke O. Brooks , Robbins Geller Rudman Dowd LLP.

Ming Liu, Plaintiff, represented by Luke O. Brooks , Robbins Geller Rudman Dowd LLP.

Plains All American Pipeline, L.P., Defendant, represented by Craig Eric Zieminski , Vinson Elkins LLP, Jeffrey S. Johnston , Vinson Elkins LLP & Michael C. Holmes , Vinson & Elkins.

Gregory L. Armstrong, Defendant, represented by Michael C. Holmes , Vinson & Elkins, Craig Eric Zieminski , Vinson Elkins LLP & Jeffrey S. Johnston , Vinson Elkins LLP.

Al Swanson, Defendant, represented by Michael C. Holmes , Vinson & Elkins, Craig Eric Zieminski , Vinson Elkins LLP & Jeffrey S. Johnston , Vinson Elkins LLP.

Chris Herbold, Defendant, represented by Michael C. Holmes , Vinson & Elkins, Craig Eric Zieminski , Vinson Elkins LLP & Jeffrey S. Johnston , Vinson Elkins LLP.

Richard McGee, Defendant, represented by Craig Eric Zieminski , Vinson Elkins LLP.

PAA Finance Corp., Defendant, represented by Craig Eric Zieminski , Vinson Elkins LLP.

PAA GP Holdings LLC, Defendant, represented by Craig Eric Zieminski , Vinson Elkins LLP.

BB&T Securities, LLC, Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

BBVA Securities Inc., Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

BMO Capital Markets Corp., Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

BNP Paribas Securities Corp., Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

CIBC World Markets Corp., Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

Deutsche Bank Securities Inc., Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

DNB Markets, Inc., Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

Fifth Third Securities, Inc., Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

ING Financial Markets LLC, Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

Ladenburg Thalmann & Co. Inc., Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

Mitsubishi UFJ Securities (USA), Inc., Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

Mizuho Securities USA Inc., Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

Morgan Stanley & Co. LLC, Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

Oppenheimer & Co. Inc., Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

Piper Jaffray & Co., Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

PNC Capital Markets LLC, Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

Raymond James & Associates, Inc., Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

RBC Capital Markets, LLC, Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

Regions Securities LLC, Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

Robert W. Baird & Co. Inc., Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

Scotia Capital (USA) Inc., Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

SG Americas Securities LLC, Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

Simmons & Company International, Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

SMBC Nikko Securities America, Inc., Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

Stephens Inc., Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

Stifel Nicolaus & Company Inc, Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

SunTrust Robinson Humphrey, Inc, Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

Tudor, Pickering, Holt & Co. Securities, Inc., Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

U.S. Bancorp Investments, Inc., Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

USCA Securities LLC, Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

Plains GP Holdings L.P., Consol Defendant, represented by Craig Eric Zieminski , Vinson Elkins LLP, Jeffrey S. Johnston , Vinson Elkins LLP & Michael C. Holmes , Vinson & Elkins.

Harry N. Pefanis, Consol Defendant, represented by Craig Eric Zieminski , Vinson Elkins LLP, Jeffrey S. Johnston , Vinson Elkins LLP & Michael C. Holmes , Vinson & Elkins.

Victor Burk, Consol Defendant, represented by Craig Eric Zieminski , Vinson Elkins LLP, Jeffrey S. Johnston , Vinson Elkins LLP & Michael C. Holmes , Vinson & Elkins.

Everardo Goyanes, Consol Defendant, represented by Craig Eric Zieminski , Vinson Elkins LLP, Jeffrey S. Johnston , Vinson Elkins LLP & Michael C. Holmes , Vinson & Elkins.

Gary L. Petersen, Consol Defendant, represented by Craig Eric Zieminski , Vinson Elkins LLP, Jeffrey S. Johnston , Vinson Elkins LLP & Michael C. Holmes , Vinson & Elkins.

John T. Raymond, Consol Defendant, represented by Craig Eric Zieminski , Vinson Elkins LLP, Jeffrey S. Johnston , Vinson Elkins LLP & Michael C. Holmes , Vinson & Elkins.

Bobby S. Shackouls, Consol Defendant, represented by Craig Eric Zieminski , Vinson Elkins LLP, Jeffrey S. Johnston , Vinson Elkins LLP & Michael C. Holmes , Vinson & Elkins.

Robert V. Sinnott, Consol Defendant, represented by Craig Eric Zieminski , Vinson Elkins LLP, Jeffrey S. Johnston , Vinson Elkins LLP & Michael C. Holmes , Vinson & Elkins.

Vicky Sutil, Consol Defendant, represented by Craig Eric Zieminski , Vinson Elkins LLP, Jeffrey S. Johnston , Vinson Elkins LLP & Michael C. Holmes , Vinson & Elkins.

Taft Symonds, Consol Defendant, represented by Craig Eric Zieminski , Vinson Elkins LLP, Jeffrey S. Johnston , Vinson Elkins LLP & Michael C. Holmes , Vinson & Elkins.

Christopher M. Temple, Consol Defendant, represented by Craig Eric Zieminski , Vinson Elkins LLP, Jeffrey S. Johnston , Vinson Elkins LLP & Michael C. Holmes , Vinson & Elkins.

Barclays Capital Inc., Consol Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP, Mark K. Glasser , Sidley Austin LLP, Matthew J. Dolan , Sidley Austin LLP, Norman J. Blears , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

Goldman Sachs & Co., Consol Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP, Mark K. Glasser , Sidley Austin LLP, Matthew J. Dolan , Sidley Austin LLP, pro hac vice, Norman J. Blears , Sidley Austin LLP, pro hac vice & Robin Wechkin , Sidley Austin LLP.

J.P. Morgan Securities LLC, Consol Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP, Mark K. Glasser , Sidley Austin LLP, Matthew J. Dolan , Sidley Austin LLP, pro hac vice, Norman J. Blears , Sidley Austin LLP, pro hac vice & Robin Wechkin , Sidley Austin LLP.

Citigroup Global Markets Inc., Consol Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP, Mark K. Glasser , Sidley Austin LLP, Matthew J. Dolan , Sidley Austin LLP, Norman J. Blears , Sidley Austin LLP & Robin Wechkin , Sidley Austin LLP.

Merrill Lynch, Pierce, Fenner & Smith Incorporated, Consol Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP, Mark K. Glasser , Sidley Austin LLP, Matthew J. Dolan , Sidley Austin LLP, pro hac vice, Norman J. Blears , Sidley Austin LLP, pro hac vice & Robin Wechkin , Sidley Austin LLP.

UBS Securities LLC, Consol Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP, Mark K. Glasser , Sidley Austin LLP, Matthew J. Dolan , Sidley Austin LLP, pro hac vice, Norman J. Blears , Sidley Austin LLP, pro hac vice & Robin Wechkin , Sidley Austin LLP.

Wells Fargo Securities LLC, Consol Defendant, represented by Tracy N. LeRoy , Sidley Austin LLP, Mark K. Glasser , Sidley Austin LLP, Matthew J. Dolan , Sidley Austin LLP, pro hac vice, Norman J. Blears , Sidley Austin LLP, pro hac vice & Robin Wechkin , Sidley Austin LLP.

Inter-Marketing Group USA, Inc., Movant, represented by William B. Federman , Federman Sherwood.

The Pennsylvania State Employees' Retirement System, Movant, represented by Carl E. Singley , Tucker Law Group, Christine Donato Saler , Chimicles & Tikellis LLP, Joe H. Tucker , Tucker Law Group, Roger B. Greenberg , Sponsel Miller Greenberg PLLC, Thane Tyler Sponsel, III , Sponsel Miller Greenberg PLLC, Kimberly M. Donaldson Smith , Chimicles & Tikellis LLP, pro hac vice & Nicholas E. Chimicles , Chimicles & Tikellis LLP, pro hac vice.

Houston Municipal Employees Pension System, Movant, represented by Thomas E. Bilek , The Bilek Law Firm LLP, Jeffrey Haber , Bernstein Liebhard et al, pro hac vice, Joseph R. Seidman, Jr. , Bernstein Liebhard LLP & Stanley D. Bernstein , Bernstein Liebhard, pro hac vice.

Employees' Retirement System of Rhode Island, Movant, represented by Gerald H. Silk , Bernstein Litowitz Berger & Grossmann LLP & Thomas Robert Ajamie , Ajamie LLP.

Jacksonville Police and Fire Pension Fund, Movant, represented by Jake Nachmani , Bernstein Litowitz Berger, Jeremy P. Robinson , Bernstein Litowitz Berger & Grossman LLP, pro hac vice, Gerald H. Silk , Bernstein Litowitz Berger & Grossmann LLP, Thomas Robert Ajamie , Ajamie LLP & Luke O. Brooks , Robbins Geller Rudman Dowd LLP.

Employees' Retirement System of the City of Baton Rouge and Parish of East Baton Rouge, Movant, represented by Gerald H. Silk , Bernstein Litowitz Berger & Grossmann LLP & Thomas Robert Ajamie , Ajamie LLP.

Alfred H. Davis, Movant, represented by Thomas E. Bilek , The Bilek Law Firm LLP.


MEMORANDUM AND OPINION

Contents

I. The Parties and the Plaintiffs' Causes of Action            878

  A. The Plaintiffs                                            878

  B. The Defendants                       ...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases