EQT Corporation responds to Toby Rice lawsuit
EQT Corporation issued the following statement in response to the lawsuit recently filed by Toby Rice in Pennsylvania State Court. "EQT's board is in the process of reviewing the Rice Team nominees and will make a recommendation to shareholders in connection with the filing of the company's proxy statement. EQT will make decisions at the appropriate time. We believe the lawsuit filed today by Toby Rice is an unconstructive attempt to distract from the strong first quarter results EQT announced today and the continued successful execution of the company's new strategic plan. The company's outstanding financial and operational performance demonstrates that it is on track to achieve the ambitious free cash flow targets set out in January. Notably, over the last two quarters EQT has generated more than $300M in adjusted free cash flow. Management continues to be laser-focused on turning EQT into a free cash flow machine."