July 10, 2017 (Shareholders Foundation) - An investigation on behalf of investors of PDC Energy Inc (NASDAQ:PDCE) shares over potential securities laws violations by PDC Energy Inc and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of PDC Energy Inc (NASDAQ:PDCE) concerning whether a series of statements by PDC Energy Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Denver, CO based PDC Energy, Inc. is an independent exploration and production company. Shares of PDC Energy Inc (NASDAQ:PDCE) grew to as high as $79.53 per share in late 2016.

PDC Energy Inc reported that its annual Ttoal Revenue declined from $595.33 million in 2015 to $382.92 million in 2016 and that its Net Loss increased from over $68.28 million in 2015 to $245.93 million in 2016.

On June 26, 2017, the Department of Justice (DOJ), the Environmental Protection Agency (EPA) and the State of Colorado, on behalf of the Colorado Department of Public Health and Environment, filed a civil complaint in federal court in Denver alleging violations of the Clean Air Act. The complaint alleges that PDC Energy Inc repeatedly violated clean air regulations intended to address the release of volatile organic compounds at 86 storage tanks that the Company owns and operates in Colorado.

Shares of PDC Energy Inc (NASDAQ:PDCE) declined to as low as $40.12 per share on June 28, 2017.