Hahaha omg you guys need to go read this thing. It’s so terrible. MANY former employees clearly interviewed and provided details to these plaintiff attorneys. Apache is fcckkkkkeeeeddddd.
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“ John Christmann IV, Timothy Sullivan, and Stephen Riney violated Section 10(b) of the Exchange Act by making materially false and misleading statements regarding the Alpine High play; and that Christmann IV, Sullivan, and Riney, as controlling persons of Apache, violated Section 20(a) of the Exchange Act. On February 15, 2022, Defendants moved to dismiss the Complaint. Plaintiffs filed an opposition to that motion on April 22, 2022.”
Pretty quiet in here after we got our bonuses!
How ironic, SR loves to talk about Financial and spending discipline, when AH happened right under his nose. The biggest capital waste ever.
Also, wonder why nobody asked about the lawsuit during the last earnings call?
Even if the lawyers are the only winners, what matters is that guilty people pay.
They wouldn’t test the wells since the ‘knew’ how rich the gas was. They wouldn’t test the plants’ efficiency since they ‘knew’ it was 100%. Not until they received a portion of the money for the NGLs that they expected did they recognize it was all a big lie.
It took an outside third party (ie the real world) to provide the big reveal.
SK isn’t a “controlling person” under the Securities Laws and his pockets likely aren’t particularly deep, so that’s why he isn’t a defendant.
There are several other employees (or ex-employees) who should also be named as defendants but aren’t for similar reasons.
Re: Guessing the “witness.”
There doesn’t seem to be a lot of confidentiality for the “confidential witness(es)” when they are described by title, work location, and service period.
Apparently the Board of Directors doesn't care either.
CP spent $100 mm reinjecting produced liquids into a gas reservoir for EOR.
JC and SR need to go to prison
Take the simple route. Go to www.ktmc.com. Then cases then current cases. Scroll down to Apache then select learn more
As an insider, I’m shocked by what was disclosed . There’s still a lot not brought to light esp regard JC’s effort to hide the bad news. He destroyed the company’s culture and it will never recover.
Also I can’t understand why SK is not a Defendant.
You can play "guess the witness" while reading the document.
Link is good! Thank you, kind soul.
Happy reading, you pathetic company-defenders.
The 148 pages document in this link https://ktmc.com/webfiles/In%20re%20Apache%20Corp_%20-%20Consolidated%20Class%20Action%20Complaint.pdf
This suit was filed a year ago. What's happened since then?
L❤️VE this so much.
Hate to see TS’s name listed. He was one of the good guys and was forced to go along w the Alpine data provided to his group.
A big nothing burger.
Martha Stewart did jail for less...
Where can we read the testimony?
Nothing new...until they got like 30+ former employees (including executives) to provide case witness testimony about the entire San Antonio/Alpine saga. I read it all a few days ago and it is DAMNING. I cannot imagine, despite how JC always says "they love a fight," that Apache attorneys will want to go to court over what is revealed in that document. They'll do everything they can to settle.
Old news, nothing new here.
https://www.courtlistener.com/docket/59677135/1/in-re-apache-corp-securities-litigation-no-421-cv-00575/
How's SK listed as a defendant when he wasn't an officer of the company??
It's interesting to see the company solely blame him for AH to only forget JC and SR were the final decision makers in the process.
I saw SK's resignation letter. It was epic.
How's SK listed as a defendant when he wasn't an officer of the company??
It's interesting to see the company solely blame him for AH to only forget JC and SR were the final decision makers in the process.
I saw SK's resignation letter. It was epic.
https://www.docketbird.com/court-documents/In-re-Apache-Corp-Securities-Litigation-No-4-21-Cv-00575/Proposed-Order/txsd-4:2021-cv-00575-00022-001
Yep filed in December. I think it’s behind a subscription, I got it from a friend. 150 pages of carnage.
Somebody shared a copy, sooo many details
Please provide info on where to go read. And how does one provide info ….some people know more but have not been deposed
Lawsuits like this drive me bananas. The ONLY winners will be the lawyers. Always.
Quality post. Thanks
Was there new filings recorded or are you just talking about the original documents?