NEW YORK--(BUSINESS WIRE)--
The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Southwestern Energy Company (“Southwestern”) (NYSE:SWN) pursuant to the Company’s convertible preferred stock offering on or around January 15, 2015.
You are hereby notified that a securities class action lawsuit has been commenced in the District Court of Harris County, Texas. If you purchased or otherwise acquired Southwestern securities pursuant to the offering your rights may be affected by this action. To get more information go to:
http://zlk.9nl.com/southwestern-energy-swn
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that the Offering and Registration Statement issued pursuant to the offering contained untrue statements and omitted material information. On January 15, 2015, Southwestern sold 30,000,000 depositary shares at a price of $50.00 per share. Then on January 21, 2016, Southwestern revealed it would cut 1,100 positions. Then on February 25, 2016, the Company announced it would “temporarily halt its drilling activities…” Then on April 28, 2016, a class action was filed against Southwestern alleging that it was shortchanging natural gas drilling rights holders. Finally, on June 9, 2016, Southwestern announced it had sold 55,000 net acres of land in West Virginia in order to reduce the principal balance of its term loan. Following these revelations, shares of Southwestern have fallen over 39 percent.
If you suffered a loss in Southwestern and would like to obtain additional information, contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/southwestern-energy-swn.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161028005854/en/
