SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of California Resources Corporation - CRC
NEW YORK, June 29, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of California Resources Corporation ("California Resources" or the "Company") (NYSE: CRC). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether California Resources and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On June 25, 2015, BlueMountain Capital issued a report describing California Resources Corporation common stock as "worthless," stating that the company's oil fields have high overhead costs and diminishing crude output inadequate to cover CRC's debt, and assessing the company's undrilled reserves portfolio as "of little incremental value."
On this news, shares of CRC stock declined 5.7% to $6.75 on June 26, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
SOURCE Pomerantz LLP
Share this article