Cabot Oil & Gas Corporation
Lead Plaintiff Deadline: 10/13/2020
SUMMARY OF CASE:
A securities class action has been filed against Cabot Oil & Gas Corporation (COG) on behalf of all purchasers of Cabot common stock between October 23, 2015 through June 12, 2020. This case has been filed in the USDC – S.D.N.Y.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Cabot had inadequate environmental controls and procedures and/or failed to properly mitigate known issues related to those controls and procedures; (ii) as a result, Cabot, among other issues, failed to fix faulty gas wells, thereby polluting Pennsylvania’s water supplies through stray gas migration; (iii) the foregoing was foreseeably likely to subject Cabot to increased governmental scrutiny and enforcement, as well as increased reputational and financial harm; (iv) Cabot continually downplayed its potential civil and/or criminal liabilities with respect to such environmental matters; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.