NEW YORK, Nov. 25, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Amplify Energy Corp. ("Amplify" or the "Company") (NYSE: AMPY). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Amplify and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On October 4, 2021, Amplify issued a press release announcing a large oil spill in Southern California. 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 and initiated its Oil Spill Prevention and Response Plan. The Company has sent a remotely operated vehicle (ROV) to investigate and attempt to confirm 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 during intraday trading on October 4, 2021.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP