LOS ANGELES, CA / ACCESSWIRE / June 20, 2017 / Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Anadarko Petroleum Corporation (“Anadarko” or the “Company”) (NYSE: APC) regarding possible violations of federal securities laws between February 17, 2016 and May 2, 2017, inclusive (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period, should contact the firm prior to the July 3, 2017 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esq., of Lundin Law PC, at 888-713-1033, or you can e-mail him at [email protected].
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may choose to do nothing and be an absent class member as well.
According to the Complaint, during the Class Period, Anadarko made false and misleading statements and/or failed to disclose: that the Company’s maintenance and safety protocols concerning certain of its vertical wells were inadequate; that due to those shortcomings, these wells were at an increased risk of explosion; and that as a result of the above, Anadarko’s public statements were materially false and misleading at all relevant times. On April 17, 2017, a deadly explosion killed two people and critically injured another in a home located within 170 feet of an Anadarko well. On April 26, 2017, The Denver Post reported that the Company “plans to shut down 3,000 vertical wells in northeastern Colorado” after the April 17 explosion. On May 2, 2017, the Frederick-Firestone Fire Protection District concluded that the fatal explosion on April 17 was linked to a faulty gas line connected to an Anadarko well. After release of this news, Anadarko’s stock price fell materially, which caused investors harm.
Lundin Law PC was created by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
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SOURCE: Lundin Law PC