Sign In
COG.US
id: 1213

Cabot Oil & Gas (COG) Investor Settlement

S.D. Texas
Court
4:21-cv-02045
Case number
22 Feb 2016
Class period Start
12 Jun 2020
Class period End

Cabot Oil & Gas reached an agreement with $COG investors to settle claims related to the poor environmental controls, which caused water pollution in Pennsylvania.


Case details:

In July 2019, Cabot Oil shared in its quarterly report to the SEC that it got two offers to settle issues from 2017. These issues were related to gas migration into groundwater in Pennsylvania's Susquehanna County.

After this news, $COG fell 12%.

In June 2020, the Pennsylvania Attorney General charged Cabot Oil with 15 criminal counts because they failed to fix their gas wells properly, which led to gas getting into Pennsylvania's water.

Due to this news, $COG declined more than 3% the same day.

Based on these events, Cabot Oil and its leaders were accused of the following details:
  • Cabot had inadequate environmental controls and failed to address known issues.
  • This led to pollution of Pennsylvania's water due to gas migration.
Cabot reached an agreement with $COG investors to settle claims related to the poor environmental controls, which caused water pollution in Pennsylvania
Case Status
Tentative Settlement
Alleged Offence
Mismanagement
Misleading Statements
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Filing date
13 August 2020
Plaintiffs
Delaware County Employees Retirement System
Attorneys
Kendall Law Group, PLLC, Kessler Topaz Meltzer & Check LLP, Robbins Geller Rudman & Dowd LLP
Defendants
Dan O. Dinges, Scott C. Schroeder, Phil L. Stalnaker
Judge
Hon. Andrew S Hanen
Trades matching type
FIFO

Frequently Asked Questions

Cabot Oil & Gas Corp

Cabot Oil & Gas Corp. is independent oil and Gas Company engaged in the exploration, development, acquisition and exploitation of oil and gas properties located in four areas of the United States: ...

    Ticker
    COG.US
    Sector
    Energy
    Industry
    Oil & Gas E&P
    Country
    USA
    Address
    840 Gessner Road Suite 1400 Houston