Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Anadarko Petroleum Corporation (“Anadarko”) (NYSE: APC) common stock between February 20, 2015 and May 2, 2017, inclusive (the “Class Period”).
Until its acquisition by Occidental Petroleum Corporation, Anadarko was one of the world’s largest independent oil and natural gas exploration and production companies. In 2009, Anadarko discovered the Shenandoah oil field in the Gulf of Mexico, which was touted by the company as “one of the largest discoveries in the company’s history.”
The complaint alleges that, throughout the Class Period, Defendants misrepresented and/or failed to disclose that: (1) the value of the Shenandoah assets and the success of the Shenandoah appraisal wells were overstated; (2) Anadarko lacked effective internal control over financial reporting; and (3) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On July 3, 2025, the Court heard final arguments regarding the Lead Plaintiff’s Motion for Class Certification. The Court has taken the Motion under advisement. This action is ongoing.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.