Concho Resources Investor Alert: Class Action Lawsuit Filed

·2 min read

Boston, Massachusetts--(Newsfile Corp. - August 4, 2021) - The Thornton Law Firm alerts investors that a class action lawsuit has been filed on behalf of investors of Concho Resources Inc. The case is brought against Concho Resources Inc., ConocoPhillips, successor-in-interest to Concho, and certain Concho officers and directors. The case is currently in the lead plaintiff stage. Investors who purchased Concho common stock between February 21, 2018 and July 31, 2019 may contact the Thornton Law Firm's investor protection team by visiting www.tenlaw.com/cases/Concho for more information. Investors may also email investors@tenlaw.com or call 617-531-3917.

FOR MORE INFORMATION: www.tenlaw.com/cases/Concho

The case alleges that the Defendants made misleading statements to investors and failed to disclose that: (1) the well spacing at Dominator was aggressive and highly risky, and premised on no reasonable basis to believe it would work as intended; (2) Concho's practice of implementing tighter well spacing was not relegated to a handful of "tests" and therefore more widespread than the market was led to believe; (3) it was known or recklessly disregarded that any measures to mitigate well spacing risks were non-existent or impossible; (4) these risks had manifested during the Class Period, causing underground well interference and permanently decreasing production, forcing the Company to scale back production targets and adopt more conservative spacing measures in its other projects; and (5) it would take multiple quarters to unwind the impacts of the widespread well spacing failure.

Interested Concho investors have until September 28, 2021 to retain counsel and apply to be a lead plaintiff if they are interested to do so. A lead plaintiff acts on behalf of all other investor class members in managing the class action. Investors do not need to be a lead plaintiff in order to be a class member. If investors choose to take no action, they can remain an absent class member. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney. Thornton Law Firm is not currently representing a plaintiff who filed a complaint but is investigating the case on behalf of investors interested in being a lead plaintiff.

FOR MORE INFORMATION: www.tenlaw.com/cases/Concho

Thornton Law Firm's securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

CONTACT:
Thornton Law Firm LLP
1 Lincoln Street
State Street Financial Center
Boston, MA 02111
www.tenlaw.com/cases/Concho

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/92083

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