Investors with losses are encouraged to contact the firm before April 26, 2021; click here to submit trade information
LOS ANGELES, April 23, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Apache Corporation (NASDAQ: APA) investors that acquired shares between September 7, 2016 and March 13, 2020. Investors have until April 26, 2021 to seek an active role in this litigation.
It is alleged in the complaint that throughout the Class Period Apache made misleading and/or false statements and/or failed to disclose that: (1) Apache intentionally used assumptions that were unrealistic in regard to the composition and amount of available gas and oil in Alpine High; (2) Apache did not have the proper infrastructure in place to economically and/or safely drill and/or transport those resources even if they existed in the amounts purported; (3) these misleading statements and omissions inflated the value of Apache’s operations in the Permian Basin artificially; and (4) as a result, Apache’s public statements were materially misleading and false at all relevant times. The lawsuit claims that investors suffered damages when the true details entered the market.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 26, 2021.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.