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On April 26, 2017, post-market, The Denver Post reported that Anadarko “plans to shut down 3,000 vertical wells in northeastern Colorado after a fatal home explosion . . . near one of its wells.” The newspaper article stated that the explosion, which occurred on April 17, 2017, killed two individuals in a recently built home located within 170 feet of an Anadarko well.
On this news, Anadarko’s share price fell $2.94, or 4.9%, to close at $57.02 on April 27, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP