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COG.US
id: 1213

Cabot Oil & Gas (COG) Investor Settlement

$40,000,000
Cash Settlement
S.D. Texas
Court
4:21-cv-02045
Case number
02/22/2016
Class period Start
06/12/2020
Class period End
10/16/2024
Claim deadline
Cabot Oil & Gas reached an agreement with $COG investors to settle claims related to the poor environmental controls, which caused water pollution in Pennsylvania.

Case details:

In July 2019, Cabot Oil shared in its quarterly report to the SEC that it got two offers to settle issues from 2017. These issues were related to gas migration into groundwater in Pennsylvania's Susquehanna County.

After this news, $COG fell 12%.

In June 2020, the Pennsylvania Attorney General charged Cabot Oil with 15 criminal counts because they failed to fix their gas wells properly, which led to gas getting into Pennsylvania's water.

Due to this news, $COG declined more than 3% the same day.

Based on these events, Cabot Oil and its leaders were accused of the following details:

  • Cabot had inadequate environmental controls and failed to address known issues.

  • This led to pollution of Pennsylvania's water due to gas migration.

Cabot reached an agreement with $COG investors to settle claims related to the poor environmental controls, which caused water pollution in Pennsylvania

Case Type
US Securities Class Action
Case Status
Distribution Started
Alleged Offence
Mismanagement, 
Misleading Statements, 
Omissions
Suspected Party
Directors, 
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.16
Filing date
08/13/2020
Plaintiffs
Delaware County Employees Retirement System
Attorneys
Kendall Law Group, PLLC, Kessler Topaz Meltzer & Check LLP, Robbins Geller Rudman & Dowd LLP
Defendants
Dan O. Dinges, Scott C. Schroeder, Phil L. Stalnaker
Judge
Hon. Andrew S Hanen
Administrator
JND Legal Administration
Settlement agreement date
2024-06-03
Court hearing date
10/24/2024
Exclusion deadline
10/03/2024
Objection deadline
10/03/2024
Hearing deadline
10/03/2024
Attorney fee
$15,082,000
Trades matching type
FIFO

Frequently Asked Questions

Do I have to sell securities to be eligible?

No, if you have purchased securities within the class period, you are eligible to participate.

You can participate in the settlement and retain (or sell) your securities.

How long does the payout process take?

The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.

What is 11thestate?

11thestate is an investor recovery company, we help investors to track and collect securities class action settlements. We will:

  1. Prepare documents for your payout

  2. Audit the claim and make sure you get the maximum possible payout

  3. File a claim with the settlement administration

  4. Correspond with the settlement administration to resolve emerging issues

  5. Deliver payout directly to your brokerage account

There is no upfront cost, but we will deduct 20% of the recovered amount as a commission for our services.