Jagged Peak Energy (NYSE: JAG) May Have Issued Materially Misleading Statements
Kehoe Law Firm’s securities attorneys are investigating claims on behalf of investors of Jagged Peak Energy, Inc. regarding allegations that Jagged Peak may have issued materially misleading statements regarding its business prospects to the investing public at the time of the company’s initial public offering (“IPO”). A class action lawsuit was recently filed alleging violations of federal securities laws.
Jagged Peak Energy IPO Raises More than $400 Million in Proceeds
On January 27, 2017, Jagged Peak Energy conducted its initial public offering, selling $31,599,334 shares at a price of $15.00 per share. The offering raised approximately $474 million in gross proceeds for the company. Since then, shares of Jagged Peak have dropped 15-20%, causing significant harm to investors.
Representations in IPO Documents
Although companies at the IPO stage are interested in ensuring a high offering price, they are required by law to provide an accurate and clear picture of prospects and risks in the Registration Statement and Prospectus. In the case of Jagged Peak, it is alleged in the complaint that Jagged Peak failed to disclose in its offering documents the risks of its acreage, including that many of its wells were positioned in an area where extractability had not been tested and, therefore, there was significant risk that its wells would produce less than other wells in the Southern Delaware Basin.
What Can I Do If I Have Jagged Peak Energy Investment Losses?
If you purchased or otherwise acquired shares in Jagged Peak Energy and would like to speak privately with a securities attorney to learn more information about this investigation, please complete the form to the right or contact Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected]; John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], or send an e-mail to [email protected].
The Kehoe Law Firm, P.C. is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors and consumers from corporate fraud, negligence, and other wrongdoing. Driven by a strong and principled sense of social responsibility and obtaining justice for the aggrieved, Kehoe Law Firm, P.C. represents plaintiffs seeking to recover investment losses resulting from securities fraud, breaches of fiduciary duty, corporate wrongdoing or malfeasance, those harmed by anticompetitive practices, and consumers victimized by fraud, false claims, deception or data breaches. Together, the partners of the Kehoe Law Firm, P.C. have spent more than 30 years prosecuting precedent-setting securities and financial fraud cases in federal and state courts on behalf of institutional and individual clients.