DENVER — A class-action complaint against Anadarko Petroleum came to light for the first time Friday.
Robert Edgar, on “behalf of all other persons similarly situated,” filed the suit in Texas court on May 3.
Those who are similarly situated are listed as people who had investments in the company between Feb. 17, 2016 and May 2, 2017.
Plaintiffs in the complaint cite, among other factors, “materially false and misleading statements” about the company’s maintenance and safety protocols of the company’s vertical wells.
The document alleges the wells were at an increased risk of explosion and Anadarko failed to truthfully disclose that information.
The complaint comes after an April explosion of a house located within 170 feet of an Anadarko well. Mark Martinez and Joey Irwin were killed in the explosion that leveled the home, and Martinez’s wife Erin was severely injured.
Investigators said the explosion was caused by unrefined, odorless natural gas from a cut 1-inch pipeline that was severed.
The line was believed to be abandoned, but investigators said it was still connected to a nearby well.
Officials with the investigation stated the gas line was abandoned at the time of the explosion but wasn’t disconnected or sealed.
Anadarko subsequently announced plans to shut down 3,000 vertical wells in the northeastern part of the state.
The complaint outlines the hit taken by Anadarko stocks after the news, saying “Anadarko’s share price fell $4.54, or 8.07 percent, to close at $51.74” on May 3.
This, says the document, caused Edgar and other members in the suit to suffer “significant losses and damages.”
The complaint concludes with a demand for a trial by jury.