Thread regarding Occidental Petroleum Corp. layoffs

Be careful what you wish for

Done.

Yes. I would recommend referencing the agreement and also the GV email. Also consider not using your Oxy computer.

So do we just submit the tip of the violation to that link?

https://www.sec.gov/tcr

We can each file a complaint with the SEC to notify them that Oxy is violating the agreement that the SEC approved. Not sure what SEC would do about it though?
If nobody can afford Individual lawyers, best option is class action.

Anyone planning to take any action on this? Asking for a friend.

@1lcf+14aNlwFa Lets just say that I wouldn't put my eggs in the ability of Marcia Backus basket.

Let me see if I understand this correctly. The Merger Agreement is between two companies: Anadarko Petroleum Corporation and Occidental Petroleum Corporation. If Anadarko wanted to sue Occidental, it could. But, since Oxy owns Anadarko, I doubt Anadarko will sue Oxy. The rest of us are just bystanders in this.

If we wanted to organize on this, how would we start? Somebody puts their lawyers name out there? A more stable but anonymous group?

I guess every affected employee could file in small claims court...every day of salary reduction until 8/8/2020 could be claimed. This does not affect any eligibility for COC if any triggering event ever takes place. No, the $ do not amount to much, its just the point of this company and its management flipping off its employees and shareholders. Their actions are unbelievable. They need to be held accountable. In the end, I would gladly donate any of my recoveries to some deserving organization or small business affected by corona.

@1lcf+14aNlwFa It’s not about how big my lawyers are versus how big theirs are... what would a jury of simple minded folks think when this goes to trial? Common sense will read the documents and it says no change...and that’s what the jury box will say.

My attorney has been involved since December and he’s aware of the email by Hawaiian shirt dude.

• We ready.

I don’t think it is about the 4.9% for them. I think it is about going after upper level management and finding any way possible to get out. I honestly cannot say I blame them. If the rest of us had documents that may allow us out with a lot of money we would fight for it to with the mess we are in.

They have a full staff of lawyers that have spend most of a year going over this. Let's see if "your lawyer" is bigger than their lawyers.

@hyq+14aNlwFa sounds like a perfect opportunity to file a class action suit.

The merger agreement has a lot more to it than just details that could revert to the change of control document if not abided by. The change of control document is not in place to govern the the merger agreement.

This could likely lead to a lawsuit because they did not abide by a legally binding contractual agreement.

If it is controlling, are there any consequences? Consequences would just go back to the COC, which then has less strict standards.

The merger agreement is controlling in this matter. It definitely should delay any compensation or benefits cuts. Likely, large cuts will be coming for legacy Anadarko employees in August, but cutting compensation and/or benefits prior to that time certainly appears to violate the agreement at first look.

The SEC filing stating that they will provide no less favorable compensation and benefits may not trigger a change of control but it may delay the pay cuts and benefits cuts. Come August we are screwed. L-APC here.

You would need to understand which document is controlling in the event of a contradiction or deviation. The COC Plan may be controlling.

I am assuming no less favorable literally means no less. Unlike the subjectivity of “materiallly reduced” in the CoC document, this appears to be quite clear cut. Does this mean they violated the agreement? One would think they covered themselves, but let’s be honest, there were many things overlooked in this past year to push this deal onward.

It’s not really the 4.9% reduction that legacy APC folks are worried about. Clearly they (OXY) are going to cut out throats in August. The writing is on the wall. They have already created a huge amount of mistrust... we could have been working for Chevron and have avoided all of this drama.

COC baby!

It is 4.9% for now and just get over it because they would have never screwed you over unless they covered their a– legally. You would need to spend thousands on lawyers, and Oxy could just postpone and postpone. Every time your lawyer spent an hour you would get a bill for 500.00, and lawyers know a lot about creating billing hours. You are hosed just like everyone else in these times and it s—s.