BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Sempra Energy (“Sempra” or the “Company”) (NYSE: SRE) securities between May 14, 2015 and November 23, 2015, inclusive (the “Class Period”). Sempra investors have until May 2, 2016 to file a lead plaintiff motion.
Investors who suffered losses over $100,000 on their Sempra investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
In October 2015, Sempra’s subsidiary, Southern California Gas Company (SoCalGas), uncovered a natural gas leak from a well close to the Porter Ranch neighborhood in Los Angeles. After Porter Ranch residents reported suffering from symptoms including headaches, nausea and nosebleeds, thousands of families were relocated from the area as SoCalGas struggled to close off the well.
Then, on February 2, 2016, California Attorney General Kamala D. Harris filed a lawsuit against SoCalGas, citing numerous and serious violations of state health and safety laws. On the very same day, Los Angeles County filed criminal charges against SoCalGas for its failure and/or unwillingness to report the leak immediately after it was discovered.
On January 6, 2016, post-market, California Governor Jerry Brown announced a state of emergency. Upon this news, shares of Sempra fell approximately 5.4%, to close at $87.00 on January 7, 2016.
The complaint alleges that throughout the Class Period, Defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) Sempra’s subsidiary SoCalGas lacked the capability to expeditiously repair gas leaks, causing a public hazard; (2) an extended hazardous gas leak would constitute a serious threat to public health and safety; and (3) as a result, Sempra’s public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you purchased shares of Sempra during the Class Period you may move the Court no later than May 2, 2016 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.
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