INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Concho Resources Inc. (CXO) on Behalf of Investors
BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith announces an investigation on behalf of Concho Resources Inc. (“Concho” or the “Company”) (NYSE: CXO) investors concerning the Company’s possible violations of the federal securities laws.
In 2018, Concho planned and constructed the Dominator Project (“Dominator”) located in the Permian Basin. It consisted of 23 wells.
On July 31, 2019, Concho revealed the wells at Dominator were spaced “too tight,” leading the Company to reduce its active rig count to 18 (down from 33 in the first quarter of 2019) to avoid overshooting budgets.
On this news, Concho’s stock price fell 22% per share on August 1, 2019, thereby injuring investors.
If you purchased Concho securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com
