LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Apache Corporation (“Apache” or “the Company”) (NASDAQ: APA) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between September 7, 2016 and March 13, 2020, inclusive (the ”Class Period”), are encouraged to contact the firm before April 26, 2021.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Apache purposefully employed unrealistic assumptions about the amount and composition of oil and gas in Alpine High. The Company failed to build the proper infrastructure to drill and transport oil and gas at Alpine High safely and economically, even if resources existed in the amounts the Company claimed. The Company’s misleading statements artificially inflated the value of its operations in the Permian Basin. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Apache, investors suffered damages.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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