The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Anadarko Petroleum Corporation (NYSE: APC) who purchased shares between February 20, 2015 and May 2, 2017. The action, which was filed in the United States District Court for the Southern District of Texas, alleges that the Company violated federal securities laws.
Prior to Anadarko’s acquisition by Occidental Petroleum Corporation (“Occidental”) (NYSE: OXY), Anadarko common stock traded on the New York Stock Exchange under the ticker symbol “APC”.
The Anadarko lawsuit alleges that (1) the value of the Shenandoah assets and the success of the Shenandoah appraisal wells were overstated; (2) the Company lacked effective internal control over financial reporting; and (3) as a result of the foregoing, Defendants’ statements about the Company’s Shenandoah assets lacked a reasonable basis.
Shareholders have until April 20, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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