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LOS ANGELES, Oct. 11, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Cabot Oil & Gas Corporation ("Cabot" or "the Company") (NYSE: COG) investors that acquired securities between October 23, 2015 and June 12, 2020. Investors have until October 13, 2020 to seek an active role in the case.
According to the lawsuit, throughout the Class Period, October 23, 2015 and June 12, 2020, defendants made misleading and/or false statements and/or failed to disclose that: (1) Cabot’s environmental controls and procedures were inadequate and/or failed to properly mitigate known issues related to those procedures and controls; (2) as a result, Cabot, among other issues, failed to fix faulty gas wells, thereby polluting Pennsylvania’s water supplies through stray gas migration; (3) the foregoing was foreseeably likely to subject Cabot to increased governmental enforcement and scrutiny, as well as increased financial and reputational harm; (4) Cabot continually downplayed its potential criminal and/or civil liabilities with respect to such environmental matters; and (5) as a result, the Company’s public statements were materially misleading and false at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
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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.