SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Concho Resources Inc. Shareholders of Class Action and Lead Plaintiff Deadline of September 28, 2021
New York, New York – (Newsfile Corp. – August 6, 2021) – The following statement is released by Levi & Korsinsky, LLP:
To: All persons or entities who have purchased or otherwise acquired securities of Concho Resources Inc. (“Concho”) (NYSE: CXO) between February 21, 2018 and July 31, 2019. You are hereby notified that a securities class action lawsuit has been brought in the United States District Court for the Southern District of Ohio. For more information, visit:
or contact Joseph E. Levi, Esq. either by email at [email protected] or by phone at (212) 363-7500. There is no cost or obligation for you.
Concho Resources Inc. NEWS – CXO NEWS
CASE DETAILS: According to the complaint filed: (1) the well spacing at Dominator was aggressive and very risky, and there was no reasonable basis for believing it would work as intended; (2) Concho’s practice of implementing tighter well spacing has not been relegated to a handful of “tests” and therefore more prevalent than the market has been led to believe; (3) it was known or recklessly ignored that any measures to mitigate the risks associated with well spacing were non-existent and / or impossible; (4) these risks had manifested themselves during the period covered by the action, causing underground well interference and a permanent decrease in production, forcing the Company to reduce its production targets and adopt spacing measures more conservative in its other projects; (5) it would take several quarters to mitigate the effects of the widespread failure of well spacing; and (6) as a result of the foregoing, the Company’s public statements were materially false and misleading at all material times.
WHAT THIS MEANS FOR SHAREHOLDERS: If you suffered a loss in Concho, you have up to September 28, 2021 ask the court to appoint you as the principal plaintiff. Your ability to participate in any recovery does not require you to serve as the principal applicant.
NO COT FOR YOU: If you purchased Concho securities between February 21, 2018 and July 31, 2019, you may be entitled to compensation without payment of any fees or out-of-pocket expenses.
PROTECT YOUR FINANCIAL INTERESTS: Fill out this brief submission form https://www.zlk.com/pslra-1/concho-resources-inc-loss-submission-form?prid=18311&wire=5 or call 212-363-7500 to discuss the case with Joseph E. Levi, Esq.
WHY LEVI & KORSINSKY: Levi & Korsinsky have a proven track record of winning cases worth hundreds of millions of dollars to shareholders over a 20-year period. We represent and fight for shareholders who have been wronged by companies.
Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut and Washington, DC The firm’s founding partners, Joseph Levi and Eduard Korsinsky, have represented shareholders and institutional clients since nearly 20 years and have achieved remarkable results for clients in the United States and abroad. The firm, which has more than 80 employees, is committed to fostering, cultivating and preserving a culture of diversity, equity and inclusion for employees and those we represent. Our lawyers have extensive expertise in representing investors in securities litigation with a history of recovering hundreds of millions of dollars in cases. Levi & Korsinsky has been ranked in the Institutional Shareholder Services (“ISS”) SCAS Top 50 report for 7 consecutive years as the best securities litigation firm in the United States. The SCAS Top 50 report identifies the leading plaintiff securities law firms in the country, and year after year ISS has recognized Levi & Korsinsky as a leading firm in the field of securities class actions.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/92386