Case Page

 

Case Status:    DISMISSED    
On or around 04/12/2016 (Other)

Filing Date: September 03, 2013

According to a press release, a class action lawsuit was filed on behalf of investors who purchased the securities of PetroChina Co. Ltd. (NYSE: PTR) during the period from April 26, 2012 to August 27, 2013 seeking to recover damages under the federal securities laws.

According to the lawsuit, PetroChina issued materially false and misleading statements about the Company's business and operations. The complaint alleges that: (a) the Company's senior officials were in non-compliance with the Company's corporate governance directives and code of ethics; (b) as a result, the Company was subject to investigation and disciplinary action by various governmental and regulatory authorities; (c) the Company's financial statements were materially false and misleading as they contained direct references to the Company's Code of Ethics, and statements regarding its compliance with regulations and internal governance policies; (d) the Company lacked adequate internal and financial controls; and (e), as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times. As result of the wrongdoing, PetroChina shares declined in value, damaging investors.

On April 4, 2014, the Court issued an Order consolidating cases, appointing lead plaintiff and approving lead counsel.

On August 3, 2015, the Court granted Defendant's Motion to Dismiss and terminated this case. On August 10, the Plaintiffs filed a Notice of Appeal to challenge this decision. On April 12, 2016, the United States Court of Appeals for the Second Circuit issued a Mandate affirming the decision of the District Court.

COMPANY INFORMATION:

Sector: Energy
Industry: Oil & Gas - Integrated
Headquarters: China

SECURITIES INFORMATION:

Ticker Symbol: PTR
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 13-CV-06180
JUDGE: Hon. Edgardo Ramos
DATE FILED: 09/03/2013
CLASS PERIOD START: 04/26/2012
CLASS PERIOD END: 08/27/2013
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bronstein, Gewirtz & Grossman, LLC (New York)
    60 East 42nd Street - Suite 4600, Bronstein, Gewirtz & Grossman, LLC (New York), NY 10165
    212.697.6484 212.697.7296 · info@bgandg.com
  2. Pomerantz Haudek Block Grossman & Gross LLP (Chicago)
    10 South LaSalle Street, Suite 3505, Pomerantz Haudek Block Grossman & Gross LLP (Chicago), IL 60603
    312.377.1181 312.377.1181 ·
  3. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 13-CV-06180
JUDGE: Hon. Edgardo Ramos
DATE FILED: 11/14/2014
CLASS PERIOD START: 04/26/2012
CLASS PERIOD END: 12/17/2013
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm P.A. (New York)
    275 Madison Avenue, 34th Floor, The Rosen Law Firm P.A. (New York), NY 10016
    (212) 686-1060 (212) 202-3827 ·
No Document Title Filing Date