SAN DIEGO & THE WOODLANDS, Texas--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP announces that a class action complaint was filed against Anadarko Petroleum Corporation (NYSE: APC) in the U.S. District Court for the Southern District of Texas, Houston Division. The complaint is brought on behalf of all purchasers of Anadarko securities between February 17, 2016 and May 2, 2017, for alleged violations of the Securities Exchange Act of 1934 by Anadarko's officers and directors. Anadarko engages in the exploration, development, production, and marketing of oil and gas properties.
View this information on the law firm's Shareholder Rights Blog:
Anadarko Accused of Implementing Inadequate Safety Protocols at Its Wells
According to the complaint, on April 17, 2017, a deadly explosion killed two individuals and critically injured another in a home located within 170 feet of an Anadarko well. On April 26, 2017, The Denver Post reported that Anadarko "plans to shut down 3,000 vertical wells in northeastern Colorado" following the explosion. On May 2, 2017, the Frederick-Firestone Fire Protection District concluded that the explosion was linked to a faulty gas line connected to an old well owned by Anadarko. On this news, Anadarko's stock fell over 13% to close at $51.95 per share on May 3, 2017.
Anadarko Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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