San Diego, CA -- (SBWire) -- 08/26/2020 --An investor, who purchased shares of Cabot Oil & Gas Corporation (NYSE: COG), filed a lawsuit over alleged violations of Federal Securities Laws by Cabot Oil & Gas Corporation.
Investors who purchased shares of Cabot Oil & Gas Corporation (NYSE: COG) have certain options and for certain investors are short and strict deadlines running. Deadline: October 13, 2020. NYSE: COG investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Houston, TX based Cabot Oil & Gas Corporation, an independent oil and gas company, explores for, exploits, develops, produces, and markets oil and gas properties in the United States. On July 26, 2019, Cabot Oil & Gas Corporation filed a quarterly report on Form 10-Q with the Securities and Exchange Commission, reporting the Company's financial and operating results for the quarter ended June 30, 2019 (the "2Q19 10-Q"). The 2Q19 10-Q disclosed that the Company had received two proposed Consent Order and Agreements ("CO&As") related to two Notices of Violation ("NOVs") it had received from the Pennsylvania Department of Environmental Protection ("PaDEP") back in June and November 2017, respectively, for failure to prevent the migration of gas into fresh groundwater sources in the area surrounding Susquehanna County, Pennsylvania.
On June 15, 2020, following a grand jury investigation, the Pennsylvania attorney general's office charged Cabot Oil with 15 criminal counts arising from its failure to fix faulty gas wells, thereby polluting Pennsylvania's water supplies through stray gas migration.
Shares of Cabot Oil & Gas Corporation (NYSE: COG) declined on June 24, 2020 to as low as $17.85 per share.
The plaintiff claims that between October 23, 2015, and June 12, 2020, the Defendants made false and/or misleading statements and/or failed to disclose that Cabot had inadequate environmental controls and procedures and/or failed to properly mitigate known issues related to those controls and procedures, that as a result, Cabot, among other issues, failed to fix faulty gas wells, thereby polluting Pennsylvania's water supplies through stray gas migration, that the foregoing was foreseeably likely to subject Cabot to increased governmental scrutiny and enforcement, as well as increased reputational and financial harm, that Cabot continually downplayed its potential civil and/or criminal liabilities with respect to such environmental matters, and thatas a result, the Company's public statements were materially false and misleading at all relevant times.
Those who purchased shares of Cabot Oil & Gas Corporation (NYSE: COG) 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
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
NYSE:COG Shareholders Foundation: Lawsuit Alleges Securities Laws Violations by Cabot Oil & Gas Corporation
A lawsuit was filed on behalf of investors in Cabot Oil & Gas Corporation (NYSE:COG) shares over alleged securities laws violations.