NEW YORK, July 10, 2024 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Ecopetrol S.A. (“Ecopetrol” or the “Company”) (NYSE: EC). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Ecopetrol and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On May 22, 2024, Ecopetrol issued a press release “report[ing] that between May 3, 2024 and May 9, 2024, the Company and its subsidiaries, Cenit Transporte y Logística de Hidrocarburos S.A.S. (‘CENIT’) and Oleoducto Central S.A. (‘Ocensa’) were notified” that Colombia’s “Superintendency of Industry and Commerce (SIC) opened an investigation and formulated charges to determine alleged infringements to the laws on protection of free economic competition”.
On this news, Ecopetrol’s American depositary receipt (“ADR”) price fell $0.41 per ADR, or 3.34%, to close at $11.88 per ADR on May 22, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, 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, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz 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 billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT: Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
SOURCE Pomerantz LLP