PetroChina Co. Ltd. (NYSE:PTR) Shareholder Class Action Lawsuit

Our law firm is investigating potential claims on behalf of shareholders of PetroChina Co. Ltd. (NYSE:PTR)  over possible wrongdoing by officers of the company stemming from the recently announced corruption investigations by the Chinese government. 

If you have purchased shares of PetroChina Co. Ltd. (NYSE:PTR), call 1-800-934-2921 right now to protect your rights.

 

Our law firm believes that PetroChina Co. Ltd. (NYSE:PTR) may have violated US securities laws, and as such, investors of the company may have been negatively affected.

Chinese authorities announced that they are investigating three senior executives of state-owned energy firm PetroChina over "serious breaches of discipline" causing the value of PetroChina stock to drop significantly.

China’s Ministry of Supervision released a statement on Monday saying that they are investigating Wang Yongchun, who is the vice president of China National Petroleum Corp. (parent company of PetroChina) Wang has been cited for severe disciplinary violations.

There have been a number of officials at state-owned enterprises and government agencies who have been investigated. President Xi Jinping took the top post in the Communist party last year. He has stated that corruption poses a threat to the leaders in China.

Mr. Wang is 53 years-old. He has been running the China National Petroleum Corp ever since 2009. The CNPC is the biggest oil field in China. According to the company’s website, there have been six vice presidents of this company ever since 2011.

Officials have stated that Wang was a potential candidate to become chairman of the China National Petroleum Corp. However, Zhou Jiping took the spot back in April. Mr. Wang has meet with energy officials from South Sudan and Indonesia to discuss oil and gas development during the past few months. He also meet with Liao Yongyuan last week, who is the company’s number two official.

Our law firm is investigating potential claims on behalf of shareholders PetroChina Co. Ltd. (NYSE:PTR) over possible violations of US securities laws due to possible breaches of fiduciary duty by officers of the company. If you have purchased shares of PetroChina Co. Ltd. (NYSE:PTR), contact our law firm right now to protect your rights.

Own shares of PetroChina Co. Ltd. (NYSE:PTR)? Contact us to protect your rights.

If you have purchased shares of PetroChina Co. Ltd. (NYSE:PTR), complete the form on this page or call attorney Bill Kyros at 1-800-934-2921 right now to protect your rights. 

Complete the form below for a free no obligation consultation. 

 

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