OAKLAND, Calif.--(BUSINESS WIRE)--Girard Gibbs LLP is investigating potential claims on behalf of investors in Jagged Peak Energy (NYSE:JAG) regarding allegations that the company may have issued materially misleading statements regarding its business prospects to the investing public at the time of the company’s IPO. A class action lawsuit was recently filed alleging violations of federal securities laws.
To speak with a securities attorney regarding this class action lawsuit investigation, click here.
On January 27, 2017, Jagged Peak Energy conducted its initial public offering, selling $31,599,334 shares at a price of $15.00 per share. The offering raised approximately $474 million in gross proceeds for the company. Since then, shares of Jagged Peak Energy have dropped more than 15%, causing significant harm to investors.
The complaint alleges that Jagged Peak Energy failed to disclose in its offering documents the risks of its acreage, specifically that many of its wells were positioned in an area where extractability had not been tested and therefore there was significant risk that its wells would produce less than other wells in the Southern Delaware Basin.
If you purchased Jagged Peak Energy shares and would like to speak privately with a securities attorney to contribute to or learn more about the investigation, visit our website or contact the securities team directly at (800) 254-9493.
Girard Gibbs LLP is one of the nation’s leading firms representing individual and institutional investors in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and has earned Tier-1 rankings and been named in the U.S. Lawyers – Best Law Firms list for five consecutive years.