Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Southern District of Texas on behalf of shareholders of Cabot Oil & Gas Corporation who purchased shares between October 23, 2015 and June 12, 2020.
Cabot and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On June 15, 2020, the Attorney General of Pennsylvania announced fifteen criminal counts against the Company, including nine felonies, following recommendations from a grand jury investigation that noted the Company’s “long-term indifference” to pollution damage to water supplies caused by its faulty gas wells.
On this news, the price of Cabot’s shares plummeted.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until October 13, 2020 to request that the court appoint them lead plaintiff.