Investigation Overview
June 5, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Enable Midstream Partners LP (NYSE:ENBL) shares over potential securities laws violations by Enable Midstream Partners and certain of its directors and officers in connection certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Enable Midstream Partners LP (NYSE:ENBL) concerning whether a series of statements by Enable Midstream Partners regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Enable Midstream Partners LP reported that its annual Total Revenue rose from over $2.48 billion in 2013 to over $3.36 billion in 2014 and that its Net Income declined from over $1.61 billion in 2013 to $530 million in 2014.
Shares of Enable Midstream Partners LP (NYSE:ENBL) declined from $26.19 per share in August 2014 to as low as $15.99 per share in April 2015.
On June 1, 2015, Enable Midstream Partners LP announced that Lynn Bourdon has submitted his resignation from the company and has stepped down from his positions as president and chief executive officer of Enable GP. Shares of Enable Midstream Partners LP (NYSE:ENBL) declined from $17.99 per share on May 29, 2015 to as low as $16.30 per share on June 1, 2015.