Anadarko Petroleum Corporation ("Anadarko" or the Company) is an energy company that develops oil and natural gas resources in the United States and worldwide.

According to a press release dated June 24 2010, the Complaint charges Anadarko, 25% owner of the Macondo/Deepwater Horizon well that was 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. Defendants filed a Motion to Dismiss the consolidated Complaint on May 2.

On March 19, 2012, the Court issued an Order transferring this case to the Southern District of Texas.

On April 16, 2012, the Court issued an Order consolidating cases under Master Docket No. 4:12-cv-00900.

On July 20, 2012, the Plaintiffs filed an amended consolidated Complaint. The Court dismissed the pending Motion to Dismiss as moot on August 2.

On May 16, 2014, the parties entered into a Stipulation of Settlement. The Court granted preliminary approval of the Settlement on June 12. On September 11, the Court granted final approval of the Settlement, including an award of Attorneys’ Fees and Expenses, and entered Final Judgment.

On May 19, 2017, the Court issued an Order approving the Settlement's distribution plan.