San Diego, CA -- (SBWire) -- 06/01/2017 --An investor in shares of Anadarko Petroleum Corporation (NYSE:APC) filed a lawsuit over alleged violations of Federal Securities Laws by Anadarko Petroleum Corporation.
Investors who purchased shares of Anadarko Petroleum Corporation (NYSE:APC) should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The plaintiff claims that between February 17, 2016 and May 2, 2017 the Defendants made false and/or misleading statements and/or failed to disclose that Anadarko's maintenance and safety protocols in respect to certain of its vertical wells were inadequate, that due to the foregoing shortcomings, these wells were at an increased risk of explosion, and that as a result of the foregoing, Anadarko's public statements were materially false and misleading at all relevant times
On April 26, 2017, an article was published stating that Anadarko Petroleum Corporation "plans to shut down 3,000 vertical wells in northeastern Colorado after a fatal home explosion in Firestone near one of its wells." The article stated that the April 17 explosion killed two men in a recently built home located within 170 feet of an Anadarko Petroleum Corporation well.
On May 2, 2017, the Frederick-Firestone Fire Protection District, through a joint effort with the Firestone Police Department and with the assistance of the Colorado Bureau of Investigation, concluded that the fatal home explosion on April 17 was linked to a faulty gas line connected to an old well owned by Anadarko Petroleum Corporation. Officials stated that the gas line had been abandoned, but not disconnected from the wellhead and sealed at both ends. Consequently, the line only stopped leaking gas after Anadarko Petroleum Corporation shut down 3,000 wells in the region following the explosion.
Those who purchased shares of Anadarko Petroleum Corporation (NYSE:APC) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
Lawsuit Filed for Investors in Shares of Anadarko Petroleum Corporation (NYSE:APC)
A lawsuit was filed on behalf of investors in Anadarko Petroleum Corporation (NYSE:APC) shares over alleged securities laws violations. Deadline: July 3, 2017. NYSE:APC investors should contact the Shareholders Foundation.