Occidental is sued by shareholders, bondholders over Anadarko merger

Occidental Petroleum Corphas been sued by investors who claim they suffered billions of dollars of losses because the heavily indebted company concealed its inability to weather plunging oil prices, after paying $35.7 billion (29 billion pounds) to acquire Anadarko Petroleum Corp.The proposed securities class action was filed late Tuesday in a New York state court in Manhattan on behalf of former Anadarko shareholders who swapped their stock for Occidental shares, and investors who acquired $24.