Kirby McInerney LLP Announces Investigation of Shareholder Claims Against Ecopetrol S.A. (EC)

NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is investigating potential claims against Ecopetrol S.A. (“Ecopetrol” or the “Company”) (NYSE: EC). The investigation concerns whether Ecopetrol and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.

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On May 22, 2024, Ecopetrol issued a press release reporting that “between May 3, 2024 and May 9, 2024, the Company and its subsidiaries, Cenit Transporte y Logística de Hidrocarburos S.A.S. (‘CENIT’) and Oleoducto Central S.A. (‘Ocensa’) were notified” that Colombia’s “Superintendency of Industry and Commerce (SIC) opened an investigation and formulated charges to determine alleged infringements of the laws on protection of free economic competition”. On this news, the price of Ecopetrol’s American depositary receipts (“ADRs”) declined by $0.41 per ADR, from $12.29 per ADR on May 21, 2024 to close at $11.88 per ADR on May 22, 2024.

If you purchased or otherwise acquired Ecopetrol securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at [e-mail], or by filling out this CONTACT FORM, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.

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