NEW YORK, NY / ACCESSWIRE / February 8, 2016 / Pomerantz LLP is investigating claims on behalf of investors of Sempra Energy ("Sempra" or the "Company") (NYSE: SRE). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether Sempra and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
In late October 2015, Sempra Energy's subsidiary Southern California Gas Company (SoCalGas) discovered a natural gas leak from a well near the Porter Ranch neighborhood in Los Angeles. After local residents reported symptoms including headaches, nausea, and severe nosebleeds, thousands of families were relocated from the area as SoCalGas attempted, so far unsuccessfully, to seal the well. On January 6, 2016, post-market, California Governor Jerry Brown declared a state of emergency.
On this news, Sempra Energy stock fell $5.00, or 5.4%, to close at $87.00 on January 7, 2016.
On February 2, 2016, California Attorney General Kamala D. Harris filed a lawsuit against SoCalGas alleging violations of state health and safety laws. That same day, Los Angeles County filed criminal charges against SoCalGas for its failure to immediately report the leak following its detection.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP
