Anadarko Petroleum Corporation. The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Southern District of Texas on behalf of shareholders of Anadarko Petroleum Corporation who purchased shares between February 20, 2015 and May 2, 2017.
In August 2019, Anadarko became an indirect, wholly owned subsidiary of Occidental Petroleum Corporation (“Occidental”) (NYSE: OXY). Prior to Anadarko’s acquisition by Occidental, Anadarko common stock traded on the New York Stock Exchange under the ticker symbol “APC.”
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the value of the Shenandoah assets and the success of the Shenandoah appraisal wells were overstated; (2) the Company lacked effective internal control over financial reporting; and (3) as a result of the foregoing, Defendants’ statements about the Company’s Shenandoah assets lacked a reasonable basis.
“Anadarko Petroleum Corporation”
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until April 20, 2020 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.
