NEW ORLEANS, 06/12/2021– (BUSINESS WIRE) – Former Louisiana Attorney General Charles C. Foti, Jr., Esq., An associate of the law firm Kahn Swick & Foti, LLC (“KSF”), announced that KSF is investigating the company APA Corporation (NasdaqGS: APA), formerly Apache Corporation.
In March 2020, the company announced that it would cut its quarterly dividend per share “from $ 0.25 to $ 0.025” and that “[o]In the coming weeks, the company will reduce the number of its rigs in the Permian to zero to limit exposure to short cycle oil projects. ”Then, on March 16, 2020, ahead of its launch, Seeking Alpha released a report stating that the company “has the highest debt-to-equity ratio among independent large-cap companies [exploration and production companies],” The “[t]The company does not have a strong balance sheet “and its” financial health is not so good “.
The company and some of its executives have been sued in a securities class action lawsuit for failing to disclose material information during the class action period and for violating ongoing federal securities laws.
KSF’s investigation is focused on whether the officers and / or directors of APA have violated their fiduciary duty to APA shareholders or have otherwise violated state or federal law.
If you have information that could assist KSF with the investigation, or have been a long-time holder of APA shares and would like to discuss your legal rights, you can call 1-877 toll-free without obligation and free of charge. call -515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]) or visit https://www.ksfcounsel.com/cases/nasdaqgs-apa/ to learn more Experienced.
About Kahn Swick & Foti, LLC
KSF, partnered with former Louisiana Attorney General Charles C. Foti, Jr., is one of the leading boutique securities litigation firms in the country. KSF serves a large number of clients – including public institutional investors, hedge funds, asset managers and private investors – in reparation for investment losses due to corporate fraud and misconduct by listed companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, visit www.ksfcounsel.com.
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Kahn Swick & Foti, LLC
Lewis Kahn, managing partner