Federal Judge: Securities Class Action Against Apache Over ‘Alpine High’ to Move Forward
Lawyers for Houston-based Apache Corp. failed to convince a federal judge to toss out a proposed securities class action claiming that company leaders misled investors about an announcement in 2016 of “transformational discovery” of a West Texas shale play called Alpine High. A magistrate in Houston has recommended that the case move forward because the plaintiffs’ complaint is sufficiently detailed and specific in its allegations that company officials knew the information they made public in 2016 was “materially false.”

