The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Cabot Oil & Gas Corporation (NYSE: COG) who purchased shares between October 23, 2015 and June 12, 2020. 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.
In particular, the Cabot lawsuit alleges that (i) Cabot had inadequate environmental controls and procedures and/or failed to properly mitigate known issues related to those controls and procedures; (ii) as a result, Cabot, among other issues, failed to fix faulty gas wells, thereby polluting Pennsylvania’s water supplies through stray gas migration; (iii) the foregoing was foreseeably likely to subject Cabot to increased governmental scrutiny and enforcement, as well as increased reputational and financial harm; (iv) Cabot continually downplayed its potential civil and/or criminal liabilities with respect to such environmental matters; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until October 13, 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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