Summary
Enterprise Products Partners L.P. (EPD) filed an 8-K on March 6, 2014, to report on a recent jury verdict against the company. A Dallas jury ruled against EPD in a lawsuit brought by Energy Transfer Partners L.P. concerning a pipeline project that was canceled in August 2011 due to insufficient customer interest. EPD has announced its intention to oppose any judgment stemming from this verdict, indicating a potential for further legal proceedings and associated costs. The company has provided a press release detailing this matter, which is included as an exhibit to the filing.
Key Highlights
- 1EPD is facing a jury verdict against it in a lawsuit filed by Energy Transfer Partners L.P.
- 2The lawsuit pertains to a pipeline project that was canceled in August 2011.
- 3The cancellation of the pipeline project was attributed to a lack of customer support.
- 4EPD intends to contest and oppose any judgment based on the March 4 jury verdict.
- 5This legal development could lead to potential financial liabilities and increased legal expenses for EPD.
- 6The company has issued a press release to disclose this information to investors.
Frequently Asked Questions
This 8-K is filed to report a jury verdict against Enterprise Products Partners L.P. in a lawsuit brought by Energy Transfer Partners L.P. and to announce EPD's intention to oppose any judgment based on that verdict.
The lawsuit concerns a proposed pipeline project that Enterprise Products Partners L.P. ultimately canceled in August 2011 because of a lack of customer support.
Enterprise Products Partners L.P. has stated its intention to oppose any judgment that may be entered based on the March 4 jury verdict.
The potential financial implications are currently uncertain, as EPD intends to fight the judgment. However, the company could face significant legal costs and potentially substantial financial damages if the opposition to the judgment is unsuccessful.