Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Apache Corporation (APA)
NEW YORK, Feb. 24, 2021 (GLOBE NEWSWIRE) – Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Apache Corporation (“Apache” or the “Company”) (NASDAQ: APA) in the U.S. district court for the southern borough of New York on behalf of those who purchased or acquired the Apache securities between September 7, 2016 and March 13, 2020 inclusive (the “Class Period”). The lawsuit aims to seek compensation for investors under federal securities laws.
The complaint alleges that Defendants made false and / or misleading statements and / or failed to disclose that: (i) Apache made deliberately unrealistic assumptions about the amount and composition of the oil and gas available at Alpine High; (ii) Apache did not have the proper infrastructure to safely and / or economically drill and / or transport these resources, even if they were in the stated quantities. (iii) these misleading statements and omissions have artificially increased the value of the Company’s business in the Permian Basin; and (iv) as a result, the Company’s public statements at all relevant times have been materially false and misleading. When the real details hit the market, the lawsuit alleged that investors suffered damage.
Investors who bought or otherwise acquired Apache stock during the class period should contact the company before April 26, 2021 Deadline for the main plaintiff’s motion. A lead plaintiff is a representative party who acts on behalf of other class members in directing the dispute. If you would like to discuss your rights or interests in relation to this class action lawsuit, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. from Gainey McKenna & Egleston at (212) 983-1300 or by email at email@example.com or Gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the company.