Bernstein Liebhard LLP Reminds Investors of the Deadline to File a Lead Plaintiff Motion In a Securities Class Action Lawsuit Against Range Resources Corporation
NEW YORK, March 9, 2021 (GLOBE NEWSWIRE) – Bernstein Liebhard, a nationally recognized investor rights law firm, is reminding investors of the deadline to file a lead plaintiff motion in a class action lawsuit filed on behalf of investors who bought or acquired the securities of Range Resources Corporation (“Range Resources” or the “Company”) (NYSE: RRC) from April 29, 2016 through February 10, 2021 (the “Class Period”). The lawsuit filed in the US District Court for the Western District of Pennsylvania alleges violations of the Securities Exchange Act of 1934.
If you Range Resources securities purchased and / or wish to discuss your statutory rights and options Please visit Range Resources Shareholder’s class action lawsuit or contact Matthew E. Guarnero toll-free at (877) 779-1414 or MGuarnero@bernlieb.com
The complaint alleges that during the classroom the defendants made materially false and / or misleading statements and / or failed to disclose that: (i) Range Resources has not properly reported the status of its Pennsylvania wells since at least 2013; (ii) the foregoing conduct placed the Company at increased risk of regulatory investigations and enforcement actions and artificially reduced the Company’s periodically reported cost estimates to plug and abandon its wells; (iii) the Company was the subject of a DEP investigation between September 2017 and January 2021 for incorrectly determining the status of its wells; (iv) the DEP investigation would predictably and ultimately lead to regulatory fines being imposed on the company; and (v) as a result, the Company’s public statements at all relevant times have been materially false and misleading.
On February 10, 2021, before the end of the trading session, the DEP released a press release announcing Range Resources would pay a civil penalty of $ 294,000 to the Agency for the Company’s 2012 Oil and Gas Violations. The DEP had opened an investigation into the company after finding conflicting and inaccurate information regarding the status of a company in Fayette County, Pennsylvania. After citing information about its wells, DEP found that “Between Tuesday July 16, 2013 and Wednesday October 11, 2017, 42 of Range Resources’ conventional wells were inactivated but never re-used” some of the The Company’s wells were “unused for 12 months” when Range Resources filed its inactivity requests, despite “having been deemed abandoned and must be plugged after 12 consecutive months of no productivity”. The company ultimately had to plug the wells that DEP deemed unworkable to resolve the issue.
In the news, Range Resources’ share price fell $ 0.62 per share, or 6.08%, to close at $ 9.57 per share on February 11, 2020.
If you want to serve as the lead plaintiff, you must transfer the court by May 3, 2021 at the latest. A lead plaintiff is a representative party who acts on behalf of other class members in directing the dispute. Your ability to partake in a recovery does not require you to be the lead plaintiff. If you don’t take action, you may remain an absent class member.
If you Range Resources securities purchased and / or wish to discuss your statutory rights and options Please visit https://www.bernlieb.com/cases/rangeresourcescorporation-rrc-shareholder-class-action-lawsuit-fraud-stock-374/apply/ or contact Matthew E. Guarnero toll-free at (877) 779-1414 or MGuarnero@bernlieb.com
Since 1993, Bernstein Liebhard LLP has collected more than $ 3.5 billion for its clients. In addition to representing individual investors, the firm has been hired by some of the country’s largest public and private pension funds to oversee their assets and litigate on their behalf. Because of its litigation success with hundreds of lawsuits and class actions, the firm has been featured on the National Law Journal’s “Hot List” thirteen times and on The Legal 500 for ten consecutive years.
LAWYER. © 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The attorney responsible for this Connecticut state complaint is Michael S. Bigin. Past results do not guarantee or forecast a similar result with respect to future matters.
Matthew E. Guarnero
Bernstein Liebhard LLP