LOS ANGELES–(BUSINESS WIRE)–$COG #classaction—Glancy Prongay & Murray LLP (“GPM”), a national investors rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased Cabot Oil & Gas Corporation (“Cabot Oil” or “the Company”) (NYSE: COG) securities between October 23, 2015, and June 12, 2020, inclusive (the “Class Period”). Cabot Oil investors have until October 13, 2020 to file a lead plaintiff motion.
If you suffered a loss on your Cabot Oil investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/cabot-oil-gas-corporation/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at email@example.com to learn more about your rights.
On July 26, 2019, the Company disclosed that it had received two proposed Consent Order and Agreements related to two Notices of Violation it had received from the Pennsylvania Department of Environmental Protection in 2017 for failure to prevent the migration of gas into fresh groundwater sources in the area surrounding Susquehanna County, Pennsylvania.
On this news, the Company’s share price fell $2.63, or over 12%, to close at $19.16 per share on July 26, 2019.
On June 15, 2020, following a grand jury investigation, the Pennsylvania attorney general’s office charged Cabot Oil with 15 criminal counts due to its failure to fix faulty gas wells, which polluted Pennsylvania’s water supplies through stray gas migration.
On this news, Cabot Oil’s stock price fell $0.67 per share, or 3.34%, to close at $19.40 per share on June 15, 2020.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Cabot had inadequate environmental controls and procedures and/or failed to properly mitigate known issues related to those controls and procedures; (2) as a result, Cabot, among other issues, failed to fix faulty gas wells, thereby polluting Pennsylvania’s water supplies through stray gas migration; (3) that the foregoing was foreseeably likely to subject Cabot to increased governmental scrutiny and enforcement, as well as increased reputational and financial harm; (4) that Cabot continually downplayed its potential civil and/or criminal liabilities with respect to such environmental matters; and (5) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you purchased Cabot Oil securities during the Class Period, you may move the Court no later than October 13, 2020 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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