LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Anadarko Petroleum Corporation (“Anadarko” or the “Company”) (NYSE: APC) concerning possible violations of federal securities laws between February 17, 2016 through May 2, 2017 inclusive (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm in advance of the July 3, 2017 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or e-mail him at firstname.lastname@example.org.
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 also choose to do nothing and be an absent class member.
According to the Complaint, throughout 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” following the April 17 explosion. On May 2, 2017, the Frederick-Firestone Fire Protection District concluded that the fatal home explosion on April 17 was linked to a faulty gas line connected to an Anadarko well. Upon release of this news, Anadarko shares fell in value materially, which caused investors harm.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
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