Press release
Investigation announced for NYSE: AMPY Investors over possible Wrongdoing at Amplify Energy Corp.
An investigation on behalf of investors in Amplify Energy Corp. (NYSE: AMPY) shares over potential wrongdoing at Amplify Energy.
Investors who purchased shares of Amplify Energy Corp. (NYSE: AMPY) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Amplify Energy directors breached their fiduciary duties and caused damage to the company and its shareholders.
Houston, TX based Amplify Energy Corp. engages in the acquisition, development, exploitation, and production of oil and natural gas properties in the United States. Amplify Energy Corp. reported that its annual Total Revenue declined from $275.57 million in 2019 to $202.14 million in 2020, and that its Net Loss increased from $35.19 million in 2019 to $464.03 million in 2020.
On October 4, 2021, Amplify Energy Corp. announced a large oil spill in Southern California. Specifically, Amplify Energy Corp. 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.”
Shares of Amplify Energy Corp. (NYSE: AMPY) declined from $5.78 per share on October 1, 2021, to $2.70 per share on October 4, 2021.
Those who purchased shares of Amplify Energy Corp. (NYSE: AMPY) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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