Cabot O&G (Now Coterra Energy) Settles Lawsuit for Securities Fraud

In October 2020, a law firm filed a lawsuit on behalf of several Cabot Oil & Gas shareholders against Cabot (now Coterra Energy), claiming the company “had inadequate environmental controls and procedures and/or failed to properly mitigate known issues related to those controls and procedures,” and that the company “failed to fix faulty gas wells which polluted Pennsylvania’s water supplies through stray gas migration” (see Second Lawsuit Filed Against Cabot Claiming Securities Fraud). The lawsuit alleged that the company, in general and via its CEO (Dan Dinges), CFO (Scott Schroeder), and VP/Regional Manager (Phil Stalnaker), hid all of this from the public — namely from investors. Court documents filed this week show that following court-ordered mediation earlier this year, the two sides settled the case three-and-a-half years later.

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