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SHAREHOLDER NOTICE: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Civitas Resources

1. Civitas faces a securities class action for misleading statements. 2. The company anticipates significant oil production cuts in 2025. 3. Civitas announced a 10% workforce reduction and executive terminations. 4. Stock price dropped 18.2% after missing revenue estimates in February. 5. Investors encouraged to contact Faruqi & Faruqi for legal options.

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FAQ

Why Very Bearish?

Civitas' impending legal troubles and significant operational shifts have historically led to investor losses. Such situations often result in severe stock price declines, evidenced by the recent 18.2% drop due to negative earnings news.

How important is it?

The legal developments impact investor confidence and future stock performance. High stakes in the lawsuit and operational challenges can severely affect Civitas' market reputation and price.

Why Short Term?

Legal actions typically have immediate effects, often resulting in heightened stock volatility and possible further declines in market value, as exhibited in similar cases.

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Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Civitas To Contact Him Directly To Discuss Their Options If you purchased or acquired securities in Civitas between February 27, 2024 and February 24, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] NEW YORK, June 02, 2025 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Civitas Resources, Inc. (“Civitas” or the “Company”) (NYSE: CIVI) and reminds investors of the July 1, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com. As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (i) Civitas was highly likely to significantly reduce its oil production in 2025 as a result of, inter alia, declines following the production peak at the DJ Basin in the fourth quarter of 2024 and a low TIL count at the end of 2024; (ii) increasing its oil production would require the Company to acquire additional acreage and development locations, thereby incurring significant debt and causing the Company to sell corporate assets to offset its acquisition costs; (iii) the Company’s financial condition would require it to implement disruptive cost-reduction measures including a significant workforce reduction; (iv) accordingly, Civitas’s business and/or financial prospects, as well as its operational capabilities, were overstated; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times. On February 24, 2025, Civitas released its fourth quarter and full year financial results, missing consensus estimates in revenue and non-GAAP EPS. The Company also announced a 10% reduction in its workforce across all levels and that its Chief Operating Officer and Chief Transformation Officer were both terminated, effective immediately. On this news, Civitas' stock price fell $8.95, or 18.2%, to close at $40.35 per share on February 25, 2025, thereby injuring investors. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.   Faruqi & Faruqi, LLP also encourages anyone with information regarding Civitas’ conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the Civitas Resources class action, go to www.faruqilaw.com/CIVI or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c47d3945-81b3-40c2-9696-b30c6d4f0f1d

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