LOS ANGELES, Sept. 17, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Suncor Energy, Inc. ("Suncor" or the "Company") (NYSE: SU) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors. The investigation concerns whether Suncor and certain of its directors and/or officers have engaged in securities fraud or other unlawful business practices.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On August 16, 2020, it was reported by Suncor that the Company had experienced a fire at its Base Plant mine’s secondary extraction facilities. Suncor then issued a press release on September 7, 2020 "provid[ing an] operational and 2020 guidance update." In this press release, it was disclosed by Suncor that while "initial repairs can allow the mine to operate at full rates, production has been restricted to manage bitumen quality into the upgraders" and that the Company expected to "achieve full mining rates of approximately 300,000 bbls/d by the middle of the fourth quarter, as bitumen treatment facilities return to full operation." Suncor's stock price fell $1.53 per share, or 9.86%, on this news, to close at $13.99 per share on September 8, 2020.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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