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Case Status:    ONGOING    
On or around 06/11/2020 (Date of last review)

Filing Date: February 19, 2020

According to the Plaintiff law firm's press release, Anadarko Petroleum Corporation is an energy company that develops oil and natural gas resources in the United States and worldwide. In August 2019, Anadarko became an indirect, wholly owned subsidiary of Occidental Petroleum Corporation ("Occidental"). Prior to Anadarko's acquisition by Occidental, Anadarko common stock traded on the New York Stock Exchange under the ticker symbol "APC."

In 2009, Anadarko discovered the "Shenandoah" oil field in the Gulf of Mexico. After drilling an initial exploratory well named Shenandoah-1, Anadarko spent the following eight years appraising the field by drilling and evaluating five appraisal wells (Shenandoah-2, Shenandoah-3, Shenandoah-4, Shenandoah-5 and Shenandoah-6). During that time, including throughout the Class Period, the Defendants made repeated positive representations about the prospects and value of the Shenandoah assets.

The Complaint alleges that, throughout the Class Period, the Defendants misrepresented and/or failed to disclose that: (1) the value of the Shenandoah assets and the success of the Shenandoah appraisal wells were overstated; (2) Anadarko lacked effective internal control over financial reporting; and (3) as a result of the foregoing, the Defendants' statements about Anadarko's Shenandoah assets lacked a reasonable basis.

On May 13, 2020, the Court issued an Order appointing Lead Plaintiff and Counsel.

COMPANY INFORMATION:

Sector: Energy
Industry: Oil & Gas Operations
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: APC
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. Texas
DOCKET #: 20-CV-00576
JUDGE: Hon. Nancy F Atlas
DATE FILED: 02/19/2020
CLASS PERIOD START: 02/20/2015
CLASS PERIOD END: 05/02/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Ajamie LLP
  2. Kessler Topaz Meltzer & Check LLP (Pennsylvania)
No Document Title Filing Date
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—Related District Court Filings Data is not available