Deals
EQT Investor Sues to Block Driller From Undercutting Board Slate
- Suit filed on behalf of Rice team, which owns 3.1% of EQT
- Calls for universal proxy card to level playing field in vote
Photographer: Ty Wright/Bloomberg
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The shareholder seeking to shake up EQT Corp. has filed a lawsuit accusing the gas driller of trying to create an uneven playing field in the company’s ongoing boardroom battle.
Investor Toby Rice alleges EQT is taking the unusual step of requiring nominees for the board to consent to being named in the company’s proxy materials, according to a copy of the complaint in Pennsylvania state court reviewed by Bloomberg News. The copy includes a stamp indicating it was filed in court.