Concho Resources Investor Alert: Class Action Lawsuit Filed

Boston, Massachusetts – (Newsfile Corp. – Aug. 4, 2021) – Thornton law firm is alerting investors that a class action lawsuit has been filed on behalf of investors by Concho Resources Inc. The case is being filed against Concho Resources Inc., ConocoPhillips, Concho’s successors in title, and certain officers and directors of Concho. The case is currently at the main plaintiff stage. Investors who purchased Concho common stock between February 21, 2018 and July 31, 2019 should contact the Thornton Law Firm’s investor protection team at www.tenlaw.com/cases/Concho for more information. Investors can also email investoren@tenlaw.com or call 617-531-3917.

MORE INFORMATION: www.tenlaw.com/cases/Concho

In the case, it alleges that Defendants have made misleading statements to investors and have failed to disclose that: (1) the drill hole spacing at Dominator was aggressive and very risky and was not based on any reasonable grounds for believing that it would work as intended; (2) Concho’s practice of implementing closer borehole spacing has not been referred to a handful of “tests” and is therefore more widespread than the market believed; (3) it was known or carelessly disregarded that measures to reduce the risks of borehole spacing were not in place or were impossible; (4) these risks had manifested themselves during the collection period, disrupting underground drilling and permanently reducing production, forcing the company to cut production targets and take more conservative distance measures on its other projects; and (5) it would take several quarters to mitigate the effects of widespread well spacing failures.

Interested concho investors have until September 28, 2021 to hire a lawyer and, if interested, to apply as the lead plaintiff. A lead plaintiff is acting on behalf of all other members of the investor group in administering the class action. Investors don’t have to be a lead plaintiff to be a class plaintiff. If investors do nothing, they can remain an absent member of the class. The class is not yet certified. Investors are not represented by a lawyer until they have been certified. Thornton law firm is not currently representing a plaintiff who has filed a complaint but is investigating the case on behalf of investors interested in being lead plaintiffs.

The story goes on

MORE INFORMATION: www.tenlaw.com/cases/Concho

Thornton Law Firm’s securities attorneys are very experienced in representing investors in claiming damages caused by violations of securities laws. His attorneys have a track record of litigating securities cases in courts across the country and recovering losses on behalf of investors. This may be viewed as a lawyer solicitation in some jurisdictions. Past results do not guarantee or predict a similar result with respect to future matters.

CONTACT:
Thornton Law Firm LLP
1 Lincoln Street
State Street Financial Center
Boston, MA 02111
www.tenlaw.com/cases/Concho

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/92083

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