Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into APA Corporation (NasdaqGS: APA) formerly Apache Corporation.
In early 2020, the Company disclosed that it “materially reduced planned investment and currently has no future drilling plans at Alpine High,” an oil-and-gas resource play in the Permian Basin that the Company had portrayed in prior years as highly viable and profitable. Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws. Specifically, the complaint alleges that the Company made materially false or misleading statements regarding Alpine High’s attributes, performance, and commercial viability despite having independent internal technical information indicating otherwise. Recently, the court presiding over that case denied the Company’s motion to dismiss, allowing the case to move forward.
KSF’s investigation is focusing on whether APA’s officers and/or directors breached their fiduciary duties to APA’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of APA shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nasdaqgs-apa/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221230005230/en/
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner