New York, New York – (Newsfile Corp. – September 17, 2021) – WHY: Rosen Law Firm, a global investor rights law firm, reminds buyers of securities of Concho Resources Inc. (NYSE: CXO) between February 21, 2018 and July 31, 2019 inclusive (the “Class Period” ) from September 28, 2021, lead applicant deadline.
SO WHAT: If you purchased any Concho securities during the Class Period, you may be entitled to compensation without payment of fees or out of pocket expenses through a contingency fee agreement.
WHAT TO DO NEXT: To join the Concho class action lawsuit, go to http://www.rosenlegal.com/cases-register-2133.html or call Phillip Kim, Esq. toll free at 866-767-3653 or by emailing [email protected] or [email protected] for information on the class action. A class action has already been filed. If you want to serve as the principal applicant, you must move the court by September 28, 2021 at the latest. A principal plaintiff is a representative party acting on behalf of the other members of the class to direct the litigation.
WHY THE ROSEN LAW: We encourage investors to select qualified advisors with a track record of success in leadership roles. Often, companies providing reviews do not have comparable experience, resources or peer recognition. Be wise in choosing the right lawyer. Rosen law firm represents investors around the world, focusing its practice on class actions in securities and derivative litigation between shareholders. Rosen law firm has secured the largest securities class action settlement against a Chinese company. Rosen law firm was ranked # 1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has been ranked in the top 4 every year since 2013 and has recovered hundreds millions of dollars for investors. In 2019 alone, the company raised more than $ 438 million for investors. In 2020, founding partner Laurence Rosen was appointed by law360 as the Titan of Plaintiffs’ Bar. Many of the firm’s lawyers have been recognized by Lawdragon and Super Lawyers.
CASE DETAILS: According to the lawsuit, the defendants throughout the litigation period made false and / or misleading statements and / or failed to disclose that: (1) the well spacing at the Dominator project, consisting of 23 wells in the Delaware Basin, part of the larger Basin, was aggressive and very risky, and had no reasonable basis to believe 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 class action period, causing underground well interference and a permanent decrease in production, forcing Concho to reduce his production targets and adopt more conservative spacing measures in his other projects; (5) it would take several quarters to mitigate the effects of the widespread failure of well spacing; and (6) because of the foregoing, the defendants’ public statements were materially false and misleading at all material times. When the real details entered the market, the lawsuit claims that investors have suffered damage.
To join the Concho class action lawsuit, go to http://www.rosenlegal.com/cases-register-2133.html or call Phillip Kim, Esq. toll free at 866-767-3653 or by emailing [email protected] or [email protected] for information on the class action.
No class has been certified. Until a group is certified, you are not represented by a lawyer unless you hire one. You can choose the lawyer of your choice. You can also remain an absent group member and do nothing at this point. The ability of an investor to participate in any potential future recovery does not depend on whether he or she is a lead applicant.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
Rosen Law Firm, Pennsylvania
275 Madison Avenue, 40th Floor
New York, New York 10016
Phone. : (212) 686-1060
Toll free: (866) 767-3653
Fax: (212) 202-3827
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/96908