An investor in NYSE:SWN shares filed a lawsuit over alleged securities laws violations against Southwestern Energy Company and certain underwriters of the company’s January 15, 2015, convertible preferred stock offering.
Investors who purchased shares of Southwestern Energy Company (NYSE:SWN) and currently hold any of those NYSE:SWN shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
On January 15, 2015, Southwestern Energy Company sold 30 million depositary shares at a price of $50.00 per share.
The plaintiff alleges that the Offering and Registration Statement issued pursuant to the offering contained untrue statements and omitted material information. The plaintiff claims that the company failed to disclose that it was experiencing severe liquidity and debt issues that threatened its ability to continue its drilling activities.
On January 21, 2016, Southwestern Energy Company revealed it would cut 1,100 positions.
On February 25, 2016, Southwestern Energy Company announced it would “temporarily halt its drilling activities…”
On April 28, 2016, a class action was filed against Southwestern Energy Company alleging that it was shortchanging natural gas drilling rights holders.
On June 9, 2016, Southwestern Energy Company announced it had sold 55,000 net acres of land in West Virginia in order to reduce the principal balance of its term loan.
On November 21, 2106, NYSE:SWN shares closed at $11.19 per share.
Those who purchased NYSE:SWN shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com