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Cabot Will Face Off Against Retirement Plan in Securities Suit

Feb. 4, 2021, 5:26 PM

The Delaware County Employees Retirement System was named lead plaintiff in a securities class action against Cabot Oil & Gas Corp. filed in the U.S. District Court for the Middle District of Pennsylvania.

The suit alleges that Cabot violated Sections 10(b) and 20(a) of the Securities Exchange Act and SEC Rule 10b-5 by undertaking a scheme to artificially inflate the prices of its shares by making false statements about its environmental protocols and exposure to legal liability. It further says that Cabot’s stock price fell when it announced Pennsylvania filed an administrative action and then 15 criminal charges against it ...

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