Hey guys, here are probably some investors in COG, so I guess this might be useful info for you. It’s about poor environmental controls issues they had a few years ago.
For newbies, a few years ago, Cabot was accused of failing to fix their gas wells properly, which led to gas getting into Pennsylvania’s water (even faced criminal charges over this). Obviously when this news came out, $COG dropped and investors filed a lawsuit against them for poor environmental controls.
The good news is that now, after all this time, $COG agreed to pay a $40M settlement to investors over this situation. And if you got hit back then, you can [check it out here](https://11thestate.com/cases/cabot-investor-settlement) and file a claim to get payment.
Meanwhile, COG already publicly admitted responsibility for what happened. And agreed to build a public water system that will provide clean water to the impacted people, along with a pledge the company will cover water bills for 75 years.
Anyways, do you think this is enough for what happened? And, has anyone here been affected by this?
Source: triflingtendency13