APACHE CORPORATION SHAREHOLDER ALERT by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Apache Corporation – APA
NEW ORLEANS–(BUSINESS WIRE) – Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., remind investors they have up April 26, 2021 Class filing lead plaintiffs against Apache Corporation (NasdaqGS: APA) if they purchased the company’s stock between September 7, 2016 and March 13, 2020 inclusive (the “Class Period”). This lawsuit is pending in the United States District Court for the Southern Texas District.
What you can do
If you have purchased shares in Apache and would like to discuss your legal rights and the possible impact this case may have on you and your right to reimbursement of your economic loss, you can contact KSF’s managing partner, Lewis Kahn, free of charge at no obligation or cost 1-877-515-1850 or email (email@example.com) or visit https://www.ksfcounsel.com/cases/nasdaqgs-apa/ to learn more. If you want to be the lead plaintiff in this class action lawsuit, you must file a motion with the court April 26, 2021.
About the lawsuit
Apache and some of its executives are charged with failing to disclose material information during the classroom, in violation of federal securities laws.
On March 12, 2020, the company announced that it had reduced its quarterly dividend per share “from $ 0.25 to $ 0.025”.[o]In the coming weeks the company will reduce the number of Perm rigs to zero, thereby limiting the risk of oil projects with short cycles. “On March 16, 2020, prior to launch, Seeking Alpha released a report that found that the company” has the highest leverage ratio among independent large-cap companies [exploration and production companies],” The “[t]The company does not have a strong balance sheet ”and its“ financial health is among other things poor ”.
In that news, Apache’s shares fell approximately 45% over two trading days from a closing price of $ 8.07 per share on March 13, 2020 to $ 4.46 per share on March 17, 2020.
The case is Plymouth County Retirement System v Apache Corporation et al., Case No. 4: 21-cv-00575.
About Kahn Swick & Foti, LLC
KSF, of which former Louisiana Attorney General Charles C. Foti Jr. is a partner, is one of the leading securities litigation law firms in the country. KSF assists a wide variety of clients – including public institutional investors, hedge funds, money managers and private investors – in their search for investment losses due to corporate fraud and misconduct by listed companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you can visit www.ksfcounsel.com.