Anadarko Petroleum Corporation - Securities Class Action

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Anadarko Petroleum Corporation Summary: According to a press release dated June 24 2010, the complaint charges Anadarko, 25% owner of the Macondo/Deepwater Horizon well currently leaking millions of gallons of oil into the Gulf of Mexico, with failing to disclose, among other things: that there was no effective Exploration and Oil Spill Response Plan for Macondo/Deepwater Horizon; that BP implemented drilling procedures solely to cut costs at the expense of safety; that the Company lacked adequate systems of internal, operational or financial controls to maintain adequate insurance reserves or to meet the known or foreseeable risks associated with its deepwater drilling liabilities; and that defendants lacked any reasonable basis to claim that Anadarko was operating according to plan, or that Anadarko could achieve guidance sponsored and/or endorsed by defendants.

On April 20, 2010, the Macondo/Deepwater Horizon rig exploded killing 11 platform workers and injuring 17 others. In the wake of this tragedy, defendants continued to issue materially false and misleading statements representing that the Company would likely incur only approximately $177.5 million in liability for its part in the Macondo/Deepwater Horizon venture. However, these statements were materially false and misleading.

On June 1, 2010, the public began to learn the truth about Anadarko's business, operations, management, and the intrinsic value of Anadarko common stock when it was reported that the Macondo/Deepwater Horizon well could not be capped and investors came to realize there was effectively no plan in place to stop the spill. That day, shares of Anadarko fell almost $10.00 per share -- or approximately 20% -- falling from a close of $42.10 per share, from a prior day's close of $52.33 per share, on huge volume of over 44.8 million shares traded.

Shortly thereafter, on June 9, 2010, shares of Anadarko fell another 20% after investors learned of the material deficiencies in the Macondo/Deepwater Horizon Exploration and Oil Spill Response Plan, via the Huffington Post, and further learned that the Company would now be responsible for over $1 billion in clean up costs.

On November 16, 2010, an Order was issued appointing Lead Plaintiff and Lead Counsel in this case.

On January 31, 2011, a consolidated class action complaint was filed by the lead plaintiffs against the defendants.

INDUSTRY CLASSIFICATION:
SIC Code: 1311
Sector: Energy
Industry: Oil & Gas Operations

COMPANY/ISSUER NAME:	Anadarko Petroleum Corporation
COMPANY/ISSUER TICKER:	APC
COMPANY WEBSITE:	http://www.anadarko.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Jerry D. Goodwin , et al. v. Anadarko Petroleum Corporation, et al.

COURT: S.D. New York	DOCKET NUMBER: 10-CV-4905
JUDGE NAME: Hon. Kimba M. Wood
DATE FILED: 06/23/2010	SOURCE:
CLASS PERIOD START: 06/12/2009	CLASS PERIOD END: 06/09/2010
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Kahn Swick & Foti, LLC (Madisonville) 206 Covington Street, Madisonville, LA, 70447 (voice) (504) 455-1400, (fax) (504) 455-1498, Kahn Swick & Foti, LLC (Updated New York) 500 Fifth Avenue, Ste. 1810, New York, NY, 10110 (voice) 212.696.3730, (fax) 504.455-1498, _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint for Violations of Federal Securities Laws
Type: Complaint		Date on the document: 06/23/2010
U.S. District Court Civil Docket
Type: Docket		Date on the document: 06/25/2010
Order
Type: Order Appointing LP/LC		Date on the document: 11/16/2010
U.S. District Court Civil Docket
Type: Docket		Date on the document: 11/16/2010

REFERENCE COMPLAINT

In re Anadarko Petroleum Corporation Class Action Litigation

COURT: S.D. New York	DOCKET NUMBER: 10-CV-04905
JUDGE NAME: Hon. Paul G. Gardephe
DATE FILED: 01/31/2011	SOURCE:
CLASS PERIOD START: 06/12/2009	CLASS PERIOD END: 06/09/2010
TYPE OF COMPLAINT: First Consolidated
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Bernstein Litowitz Berger & Grossmann LLP (New York, NY) 1285 Avenue of the Americas, 33rd Floor, New York, NY, 10019 (voice) 212.554.1400, (fax) 212.554.1444, blbg@blbglaw.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 1

DOCUMENTS FOR THE REFERENCE COMPLAINT
Consolidated Class Action Complaint
Type: Complaint		Date on the document: 01/31/2011
U.S. District Court Civil Docket
Type: Docket		Date on the document: 02/14/2011

OTHER DOCUMENTS

Case Name and/or Number:
Type:		Date on the document:

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