Anadarko Faces Investor Class Action Over Gulf Spill

Law360, New York (June 25, 2010, 2:18 PM EDT) -- Anadarko Petroleum Corp. is facing a shareholder class action alleging the company deceived investors about the safety of the Deepwater Horizon well and downplayed its potential liability in the days after the fatal rig explosion and oil spill.

The complaint, lodged Wednesday in the U.S. District Court for the Southern District of New York, claims Anadarko, 25 percent owner of the ruptured well, disregarded BP PLC’s “egregious” safety violations at the site while touting its own risk management and environmental safeguards, inflating the stock price....
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Goodwin v. Anadarko Petroleum Corporation et al


Case Number

1:10-cv-04905

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Paul G. Gardephe

Date Filed

June 23, 2010

Law Firms

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.