“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.“
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It's kind of hard to work for a company that pays well but you don't have respect for the people on top because you know they are greedy, corrupt and liars. Even with good oil prices there are still not many good opportunities out there.
"Despite Project Phoenix coming with an extraordinary $100 million price tag, CW 22 described the entire project as closely guarded........The Alpine High production superintendent complained to CW 13 that Project Phoenix was not successful and losing money because Apache was not even able to recover the NGL injected into the well."
What are the consequences for Apache if they lose this case?
https://www.ktmc.com/featured-case/apache-corp