SHAREHOLDER: Class Action Investigation on Behalf of Investors of Amplify Energy Corp. (AMPY)
The Chimicles Firm is investigating claims on behalf of investors of Amplify Energy Corporation (”Amplify” or “The Company”) (“NYSE: AMPY) concerning whether Amplify and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On October 4, Amplify issued a press release announcing a massive oil spill off the coast of Huntington Beach in Orange County, California, originating from a pipeline running from the Port of Long Beach to its offshore oil platform named “Elly”. Specifically, the press release stated that “on Saturday, October 2, 2021, beta Offshore (a subsidiary of Amplify Energy) first observed and notified the US Coast Guard of an oil sheen approximately four (4) miles off the coast in Southern California an initiated its Oil Spill Prevention and Response Plan. Amplify has sent a remotely operated vehicle (ROV) to investigate and attempt to confirm the source of the release. As a precautionary measure, all of the Company’s production and pipeline operations at the Beta Field have been shut down.”
On this news, Amplify’s stock price fell sharply, by as much as 53%, during trading on October 4, 2021, triggering a temporary trading halt.
If you are an investor in Amplify Energy Corp. (AMPY), please contact the attorneys listed below.
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Attorneys for this case:
Benjamin F. Johns
Beena M. McDonald