NEW YORK, NY / ACCESSWIRE / June 26, 2024 / 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.
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SOURCE: Pomerantz LLP