Judge: Investors’ Case Against Fracking Company For Safety Misstatements Is Valid

Mealey's (July 6, 2018, 9:49 AM EDT) -- HOUSTON — A federal judge in Texas on June 19 ruled that investor plaintiffs who brought a securities class action against a hydraulic fracturing company for alleged misstatements regarding its safety protocols had sufficiently pleaded their case that the company’s statement of safety compliance constituted “an actionable misstatement” that “a reasonable investor would consider important in making an investment decision” (Robert Edgar v. Anadarko Petroleum Corp., et al., No. 17-1372, S.D. Texas)....

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