Anadarko Petroleum Corp. investors once again obtained class status on securities fraud claims after a federal court considered additional evidence about competing potential causes for a stock selloff.
The re-think at the US District Court for the Southern District of Texas came after an appeal in which Anadarko won a chance to submit additional evidence about what caused the 2017 stock drop—a write-off for an oil field in development, which was the subject of the suit, or a different piece of adverse news, or both.
The “record evidence and common sense point to the same conclusion,” Judge Charles Eskridge said ...
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