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Case Status:    ONGOING    
On or around 03/06/2024 (Date of last review)

Filing Date: August 13, 2020

According to the Complaint, Cabot Oil & Gas Corporation was incorporated in 1989 and is headquartered in Houston, Texas. Cabot is an independent oil and gas company that explores for, exploits, develops, produces, and markets oil and gas properties in the U.S.

The Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) Cabot had inadequate environmental controls and procedures and/or failed to properly mitigate known issues related to those controls and procedures; (ii) as a result, Cabot, among other issues, failed to fix faulty gas wells, thereby polluting Pennsylvania’s water supplies through stray gas migration; (iii) the foregoing was foreseeably likely to subject Cabot to increased governmental scrutiny and enforcement, as well as increased reputational and financial harm; (iv) Cabot continually downplayed its potential civil and/or criminal liabilities with respect to such environmental matters; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.

This case was voluntarily dismissed on October 6, 2020. A related case continues under Docket 20-CV-01815 in the Middle District of Pennsylvania.

On February 3, 2021, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated Complaint on April 12. On June 22, the case was transferred to the Southern District of Texas.

Defendants filed a Motion to Dismiss the consolidated Complaint on June 11, 2021. On January 12, 2022, the Court issued an Order granting Defendants' Motion to Dismiss. The Court dismissed the claims in part with prejudice and in part without prejudice.

Lead Plaintiff filed an amended consolidated Complaint on February 11, 2022. Defendants filed a Motion to Dismiss the amended consolidated Complaint on March 10. On August 10, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

Lead Plaintiff filed a Motion for Class Certification on December 5, 2022. On September 27, 2023, the Court issued an Order granting the Motion for Class Certification.

Lead Plaintiff filed a second amended consolidated Complaint on January 9, 2024.

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