Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Range Resources Corporation (RRC)
Glancy Prongay & Murray LLP (“GPM”) is reminding investors of the upcoming May 3, 2021 deadline to file lead plaintiff motion in the class action lawsuit filed on behalf of investors representing Range Resources Corporation (“Range Resources “or Range Resources Corporation) purchased or otherwise acquired common stock” Company “) (NYSE: RRC) between April 29, 2016 and February 10, 2021, inclusive (the” Class Period “).
If you have suffered a loss on your Range Resources investment or would like to inquire about whether you may be able to make claims to recover your loss under federal securities laws, you can contact your contact information at https://www.glancylaw.com/ cases / range- submit. Resource Corporation /. You can also contact Charles H. Linehan of GPM at 310-201-9150, toll free at 888-773-9224, or email Shareholder@glancylaw.com to learn more about your rights.
On February 10, 2021, the Pennsylvania Department of Environmental Protection (“DEP”) announced that Range Resources had paid the agency a civil penalty of $ 294,000 on January 8, 2021 for violating the 2012 Oil and Gas Act. According to the DEP investigation, “between Tuesday, July 16, 2013 and Monday, October 11, 2017, 42 of Range Resources’ conventional wells were inactivated but never re-used,” and some of the “Company’s” wells were at Range Resources at the time not operating for 12 months when Range Resources filed for inactive status, although “after 12 consecutive months of inactivity the well would be deemed abandoned and must be plugged”. In addition to paying the DEP’s civil fine, Range Resources ultimately had to plug the wells which the agency found had no viable future use to correct the problem.
In the news, Range Resource’s share price fell $ 0.62 per share, or 6.08%, to close at $ 9.57 per share on February 11, 2021, hurting investors.
The story goes on
The complaint filed in this class action alleges that, throughout the collection period, the defendants made materially false and / or misleading statements and did not disclose material adverse facts about the company’s business, business and prospects. In particular, Defendants have failed to advise investors that: (1) Range Resources has not properly reported the status of its Pennsylvania wells for at least 2013; (2) the foregoing behavior exposed the Company to increased risk of regulatory investigations and enforcement actions and artificially reduced the Company’s periodically reported cost estimates to plug and abandon its wells; (3) The Company was the subject of a DEP investigation from September 2017 to January 2021 for incorrectly determining the status of its wells. (4) The DEP investigation would predictably result in regulatory fines being imposed on the company. and (5) as a result, Defendant’s positive statements about the Company’s business, operations and prospects were materially misleading and / or were inadequate at all relevant times.
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If you purchased or otherwise acquired Range Resources common stock during the class period, you may request the court to appoint you as the lead plaintiff in this alleged class action no later than May 3, 2021. To be a member of the class action, you do not need to take any action at this point. You can keep an attorney of your choice or you can take no action and remain an absent member of the class action. If you would like to learn more about this class action, or if you have any questions about this announcement or your rights or interests in relation to the pending class action, 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, email email@example.com, or visit our website at www.glancylaw.com. When inquiring by email, please include your postal address, telephone number and the number of shares purchased.
This press release may be viewed as a solicitor’s advertisement in some jurisdictions under applicable laws and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210316005182/de/
Glancy Prongay & Murray LLP, Los Angeles
Charles Linehan, 310-201-9150 or 888-773-9224