The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of Texas on behalf of investors who purchased Anadarko Petroleum Corporation (NYSE : APC) securities between February 17, 2016 and May 2, 2017.
According to the complaint, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) Anadarko’s maintenance and safety protocols in respect to certain of its vertical wells were inadequate; (ii) due to the foregoing shortcomings, these wells were at an increased risk of explosion; and (iii) that as a result of the foregoing, Anadarko’s public statements were materially false and misleading at all relevant times. On April 17, 2017, an explosion near an Anadarko well killed two and critically injured another person. Then on April 26, 2017, it was reported that Anadarko would shut down 3,000 vertical wells in Colorado following this explosion. Then on May 2, 2017, it was announced that the explosion was linked to a faulty gas line connected to an old well owned by Anadarko.
If you suffered a loss in Anadarko Petroleum Corporation you have until July 3, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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