Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Anadarko Petroleum Corporation (“Anadarko”) (NYSE: APC) common stock between February 20, 2015 and May 2, 2017, inclusive (the “Class Period”).
Until its acquisition by Occidental Petroleum Corporation, Anadarko was one of the world’s largest independent oil and natural gas exploration and production companies. In 2009, Anadarko discovered the Shenandoah oil field in the Gulf of Mexico, which was touted by the company as “one of the largest discoveries in the company’s history.”
The complaint alleges that, throughout the Class Period, Defendants misrepresented and/or failed to disclose that: (1) the value of the Shenandoah assets and the success of the Shenandoah appraisal wells were overstated; (2) Anadarko lacked effective internal control over financial reporting; and (3) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On March 10, 2026, the Court granted Lead Plaintiff’s Motion for Class Certification. This action is in the discovery phase and is ongoing.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs' Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.