NEW ORLEANS, April 19, 2020 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors with losses in excess of $100,000 that they have only until April 20, 2020 to file lead plaintiff applications in a securities class action lawsuit against Anadarko Petroleum Corporation, now a wholly-owned subsidiary of Occidental Petroleum Corporation (NYSE: OXY) if they purchased the Company's shares between February 20, 2015 and May 2, 2017, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of Texas.
What You May Do
If you purchased shares of Anadarko and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-apc/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by April 20, 2020.
About the Lawsuit
Anadarko and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On May 2, 2017, the Company announced it 1Q2017 financial results disclosing a $467 million impairment charge and a $435 million expense related to its Shenandoah oil field project, touted by the Company in prior periods, stating that it had "suspended further appraisal activities" due to testing results and the commodity-price environment and that the exploratory well costs could no longer be capitalized.
On this news, the price of Anadarko's shares declined, injuring investors.
The case is Georgia Firefighters' Pension Fund v. Anadarko Petroleum Corporation, et al., 4:20-cv-00576.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
SOURCE Kahn Swick & Foti, LLC