Southern District of Texas Grants Class Certification in Anadarko Securities Fraud Case After Fifth Circuit Remand on Expert Testimony Standards

Following Fifth Circuit remand, the Southern District of Texas granted class certification in institutional investors' securities fraud action against Anadarko Petroleum and senior executives for allegedly misrepresenting viability and profitability of a deepwater Gulf of Mexico oil field project. The court denied cross-motions to exclude expert testimony, finding both investors' rebuttal report and defendants' surreply report on sunk-cost valuation principles satisfied Daubert reliability standards.