1. Civitas Resources faces a class action lawsuit for alleged securities fraud. 2. The lawsuit targets investor losses from February 2024 to February 2025. 3. Civitas may need to reduce oil production significantly in 2025. 4. The company’s financial condition is overstated, with possible layoffs required. 5. Investors can claim compensation without upfront costs.
The lawsuit indicates severe operational and financial challenges, reminiscent of past industry downturns that have depressed stock prices.
The lawsuit directly impacts investor confidence and Civitas's financial viability, crucial for stock pricing.
If the allegations are proven true, it could lead to prolonged financial instability for CIVI, as seen in similar cases in the energy sector.
Levi & Korsinsky, LLP notifies investors in Civitas Resources, Inc. ("Civitas Resources" or the "Company") (NYSE: CIVI) of a class action securities lawsuit.
The lawsuit seeks to recover losses on behalf of Civitas Resources investors who were adversely affected by alleged securities fraud between February 27, 2024 and February 24, 2025. Follow the link below to get more information and be contacted by a member of our team:
https://zlk.com/pslra-1/civitas-resources-lawsuit-submission-form?prid=149187&wire=4
Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
(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.
If you suffered a loss in Civitas Resources during the relevant time frame, you have until July 1, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE: Levi & Korsinsky, LLP