Kehoe Law Firm, P.C. is investigating securities claims on behalf of investors of Cabot Oil & Gas Corporation (“Cabot Oil” or the “Company”) (NYSE: COG) to determine whether Cabot Oil engaged in securities fraud or other unlawful business practices.
On June 15, 2020, “Attorney General Josh Shapiro announced . . . that the Pennsylvania Office of Attorney General is formally charging Cabot Oil and Gas, an unconventional gas, or ‘fracking,’ company, for environmental crimes that occurred in northeastern Pennsylvania. The charges come as part of a two-year Grand Jury investigation into environmental crimes committed by unconventional oil and gas companies across the Commonwealth.”
According to the Attorney General’s press release, “[t]he Pennsylvania Office of Attorney General, in conjunction with the 43rd Statewide Grand Jury, is charging Cabot with 7 counts of Prohibition Against Discharge of Industrial Wastes, 7 counts of Prohibition Against Other Pollutions and one count of Unlawful Conduct under the Clean Streams Law.” Further, according to the Attorney General, “[t]he Grand Jury’s investigation into the contamination of well water in Dimock, Susquehanna County, revealed that Cabot’s fracking activities were responsible for methane pollution in the local water supply. This contamination led to several Dimock residents suffering from the environmental hazards associated with repeated methane exposure, including Norma Fiorentino’s drinking water well exploding in January 2009.”
On this news, Cabot Oil’s stock price fell $0.67 per share, or 3.34%, closing at $19.40 per share on June 15, 2020.
Cabot Oil investors who purchased, or otherwise acquired, the Company’s common stock during and suffered losses greater than $100,000 are encouraged to complete Kehoe Law Firm’s Securities Questionnaire contact Kehoe Law Firm, P.C., Kevin Cauley, Director, Business Development, (215) 792-6676, Ext. 802, [email protected], [email protected], to discuss the securities investigation or potential legal claims.