LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors who purchased Anadarko Petroleum Corporation (“Anadarko” or the “Company”) (NYSE: APC) securities between February 17, 2016 and May 2, 2017, inclusive (the “Class Period”). Anadarko investors have until July 3, 2017 to file a lead plaintiff motion.
Investors suffering losses on their Anadarko investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to email@example.com.
On April 26, 2017, the Company disclosed that it was shutting in all vertical wells across the counties in northeast Colorado in response to a home explosion and fire in Firestone, Colorado, that occurred on April 17, 2017. The Company stated that the wells would remain shut in until the its field personnel could conduct inspections and testing of the associated equipment. On this news, shares of Anadarko fell $2.84 per share, to close at $57.12 per share on April 27, 2017, thereby injuring investors.
The complaint filed in this class action alleges that, throughout the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) Anadarko's maintenance and safety protocols in respect to certain of its vertical wells were inadequate; (ii) due to the foregoing shortcomings, these wells were at an increased risk of explosion; and (iii) that as a result of the foregoing, Anadarko's public statements were materially false and misleading at all relevant times.
If you purchased shares of Anadarko during the Class Period you may move the Court no later than July 3, 2017 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 Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at http://glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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