Ademi LLP is investigating possible securities fraud claims against Amplify (NYSE: AMPY). The investigation results from inaccurate statements Amplify may have made regarding its business operations and prospects.
The investigation focuses on whether Amplify properly disclosed its commitment and ability to comply with federal and state environmental laws. On October 4, 2021, Amplify reported that it had “observed and notified the US Coast Guard of an oil sheen approximately four (4) miles off the coast in Southern California and initiated its Oil Spill Prevention and Response Plan.” Press reports state that this is California’s worst oil spill in almost 30 years. The spill dumped about 3,000 barrels (126,000 gallons) of crude into the Pacific Ocean near the seaside community of Huntington Beach, California.