Bernstein Litowitz Berger & Grossmann LLP Announces Securities Class Action Suit Filed Against Plains All American Pipeline, L.P., Plains GP Holdings, L.P. and Certain of Their Senior Executives

NEW YORK, NY--(Marketwired - August 17, 2015) - Bernstein Litowitz Berger & Grossmann LLP ("BLB&G") today announced that it has filed a securities class action on behalf of the Jacksonville Police and Fire Pension Fund alleging claims under Section 10(b) and 20(a) under the Securities Exchange Act of 1934 ("Exchange Act") on behalf of investors in the Common Units of Plains All American Pipeline, L.P. ("Plains" or the "Company") (NYSE: PAA) between February 27, 2013 and August 4, 2015, inclusive, and the Class A Shares of Plains GP Holdings, L.P. ("Plains Holdings") (NYSE: PAGP) between October 16, 2013 and August 4, 2015, inclusive (the "Class Period"). The Complaint also alleges claims under Sections 11, 12 and 15 of the Securities Act of 1933 (the "Securities Act") on behalf of all persons who purchased or otherwise acquired Plains Holdings Class A Shares pursuant and/or traceable to Plains Holdings' initial public offering conducted on or about October 16, 2013 (the "IPO"), as well as a registered public offering of Plains Holdings Class A Shares conducted on or about November 10, 2014 (the "November 2014 Offering" and, collectively with the IPO, the "Offerings"). The action is captioned Jacksonville Police and Fire Pension Fund v. Plains All American Pipeline, L.P., No. 2:15-cv-06210 (C.D. Cal.).

The Complaint alleges that during the Class Period, Plains, Plains Holdings and certain of its senior executives violated provisions of the Exchange Act by issuing false and misleading statements concerning the Company's pipeline monitoring, maintenance and spill response measures, as well as its compliance with federal regulations governing its pipeline operations. Among other things, Plains told investors and regulators that it was in compliance with regulations governing its pipeline operations, and that its Line 901 pipeline and operations off the coast of Santa Barbara, California were "state of the art" and therefore a spill was "extremely unlikely." The Complaint also seeks remedies under the Securities Act against Plains Holdings, certain of its senior officers and directors, and certain underwriters of the IPO and November 2014 Offering for material misstatements and omissions contained in materials issued in connection with the Offerings.