HENDERSONVILLE, TN / October 27, 2020/ The Law Offices of Timothy L. Miles, who has been leading the fight to protect shareholder rights for over 19 years, announces that on October 5, 2020, a purchaser of Cabot Oil and Gas Corporation (NYSE: COG) filed a class action complaint for alleged violations of the Securities Exchange Act of 1934 between October 23, 2015 and June 12, 2020. The action was filed in the Middle District of Pennsylvania and is captioned Delaware County Employees Retirement System v. Cabot Oil & Gas Corporation, No. 20-cv-1815. Cabot is an independent oil and gas company primarily operating in Pennsylvania’s Marcellus Shale.
If you have suffered a loss due to Cabot Oil and Gas Corporation’s misconduct, click here.
Cabot Oil and Gas Corporation (COG) Sued for Faulty Gas Wells and Water Pollution
According to the complaint, Cabot failed to disclose and made misleading statements surrounding the company’s inadequate environmental controls and procedures, including its failure to fix faulty gas wells resulting in the pollution of local PA water supplies. Cabot consistently downplayed the potential civil and criminal liabilities that could result, despite the likelihood that these accusations would lead to serious governmental scrutiny and financial harm. On July 26, 2019, Cabot filed a Form 10-Q for the quarter ending June 30, 2019, disclosing that the company had received two notices of violation from the PA Department of Environmental Protection in June and November of 2017, for failing to prevent the migration of gas into local fresh groundwater sources. On this news, Cabot’s shares fell 12.07% the same day. Then, on June 15, 2020, following a grand jury investigation, the PA attorney general’s office charged Cabot with fifteen criminal counts related to the company’s failure to fix faulty gas wells and the resulting water pollution. On this news, Cabot’s shares fell 3.34%, closing at $19.40 per share on June 15, 2020.
Cabot Shareholders Urged to Contact the Firm
If you purchased Cabot securities, have information, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Timothy L. Miles, Esquire, at 615-587-7384, Toll-Free at 855-846-6529, or by email to firstname.lastname@example.org. If you inquire by email please include your mailing address, telephone number, and the number shares owned.
About Timothy L. Miles
Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recentely awarded the recognition of American’s Most Honored Lawyers 2020 – Top 1% by the American Registry. Mr. Miles was also recently selected by Martindale-Hubbell® and ALM as a 2020 Top Ranked Lawyer and a 2020 Top Rated Litigator. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®,their highest rating for both legal ability and ethics. Mr. Miles is amember of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019-2020). Awards: Top Rated Litigator by Martindale-Hubbell® and ALM (2019); Elite Lawyer of The South by Martindale-Hubbell® and ALM (2019); Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); AV® Preeminent™ Rating by Martindale-Hubble® (2014-2020); PRR AV Preeminent Rating on Lawyers.com (2018-2020); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability (Martindale-Hubble® 2015); Lifetime Achievement Award by Premier Lawyers of America (2019); Superb Rated Attorney (Avvo); Avvo Top Rated Lawyer for (Avvo 2017-2020). Mr. Miles has authored numerous publications advocating for shareholdings including most recently: Free Portfolio Monitoring Services Offered by Plaintiff Securities Firms Provides Significant Benefits To Investors (Timothy L. Miles, Dec. 3, 2019).
SOURCE: The Law Offices of Timothy L. Miles