Wolf Haldenstein Adler Freeman & Herz LLP is Investigating Potential Securities Fraud Claims Against Diversified Energy Company PLC (NYSE: DEC)
Wolf Haldenstein Adler Freeman & Herz LLP (“Wolf Haldenstein”), a preeminent national shareholder rights litigation firm, announces that is investigating claims on behalf of investors of Diversified Energy Company PLC (LSE:DEC; NYSE:DEC) (the “Company”)
Wolf Haldenstein is investigating whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
Diversified Energy is a leading publicly traded energy company focused on natural gas and liquids production, transport, marketing and well retirement. Through its differentiated strategy, Diversified Energy acquires existing, long-life assets and invest in them to improve environmental and operational performance until retiring those assets in a safe and environmentally secure manner.
On December 18, 2023, the Company announced that trading in its ordinary shares would commence at market open on NYSE. Diversified would also retain its premium listing and continue to trade on the main market of the London Stock Exchange. No new ordinary shares were being offered or sold in connection with the US Listing.
On December 19, 2023, Diversified Energy announced that it received a request from minority party of the U.S. House of Representatives Committee on Energy and Commerce regarding its well retirement and emissions information. The Company announced that it was reviewing the letter and intends to provide information regarding Diversified Energy’s purportedly “peer-leading environmental and operational actions that underpin its responsible asset stewardship approach.”
According to the Company, the request was partially based on a 2021 media report that “broadly speculated and inaccurately described numerous items, including how the Company addresses emissions and well retirement.”
On this news, the Company’s shares declined from $17.00 per ordinary share high during trading on December 19, 2023, to open at $14.75 per ordinary share on December 20, 2023, before closing at $15.20 per ordinary share.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation