An investigation on behalf of investors in Apache Corporation (NASDAQ:APA) shares over potential wrongdoing at Apache Corporation was announced and NASDAQ:APA stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/29/2022 -- An investigation on behalf of current long-term investors in shares of Apache Corporation (NASDAQ: APA) was announced over potential breaches of fiduciary duties by certain officers and directors at Apache Corporation.
Investors who purchased shares of Apache Corporation (NASDAQ: APA) have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Apache Corporation directors breached their fiduciary duties and caused damage to the company and its shareholders.
On February 23, 2021, a lawsuit was filed against Apache Corporation over alleged Securities Laws Violations. The plaintiff alleged that the defendants failed to disclose to investors that Apache intentionally used unrealistic assumptions regarding the amount and composition of available oil and gas in Alpine High, that Apache did not have the proper infrastructure in place to safely and/or economically drill and/or transport those resources even if they existed in the amounts purported, that these misleading statements and omissions artificially inflated the value of Apache's operations in the Permian Basin, and that as a result, Apache's public statements were materially false and misleading at all relevant times.
On December 17, 2021, a consolidated complaint was filed and on February 15, 2022, the defendants filed their motion to dismiss.
On September 26, 2022, U.S. Magistrate Judge Andrew M. Edison of the Southern District of Texas denied the defendant's motion to dismiss the lawsuit.
Those who purchased shares of Apache Corporation (NASDAQ: APA) have certain options and should contact the Shareholders Foundation.
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About The Shareholders Foundation
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.