#United States #New York #Levi & Korsinsky #Civitas Resources #CIVI

Class Action Lawsuit Against Civitas Resources, Inc.

Levi & Korsinsky, LLP is reaching out to investors of Civitas Resources, Inc. (NYSE: CIVI), informing them of a significant class action lawsuit related to alleged securities fraud. This legal action seeks to recover damages for shareholders who experienced losses due to misleading claims made by the company between February 27, 2024, and February 24, 2025.

Details of the Lawsuit

The lawsuit hinges on a few crucial points concerning Civitas Resources:
1. Production Reductions: The company was expected to implement significant cuts in oil production in 2025, stemming from a peak production that occurred at the DJ Basin in late 2024 and a lack of favorable well completions (TIL count) by the end of that year.
2. Financial Strain: To boost production levels, it was anticipated that Civitas would be obligated to acquire additional lands, which would subsequently lead to accruing substantial debt. As a result, the firm might even have to divest from its corporate assets to finance these acquisitions.
3. Operational Cutbacks: The financial condition of Civitas hinted at the necessity for drastic cost reductions, including a workforce downsizing that could disrupt operations.
4. Misleading Statements: Collectively, these factors suggest that the company overstated its financial health and operational capacities, thus releasing public statements that were misleading and materially false.

Implications for Investors

The implications for those who invested in Civitas during this period are significant. If you faced losses as a result, now is the time to act. You have until July 1, 2025 to file a request with the court to be considered as the lead plaintiff in this class action suit. Importantly, participating in the recovery process does not require serving as lead plaintiff.

No Financial Risk to Investors

For eligible class members, the opportunity to seek compensation comes without incurring fees or out-of-pocket costs. Levi & Korsinsky emphasizes that there are no obligations involved in participating, making it a low-risk option for those affected.

Why Choose Levi & Korsinsky?

Levi & Korsinsky has a robust history in securities litigation, with an impressive track record spanning over two decades. The firm has successfully secured hundreds of millions in damages for shareholders and ranks consistently among the top firms in the United States for securities class action cases, according to ISS Securities Class Action Services.

How to Get Involved

If you have been impacted by Civitas Resources' conduct and envision seeking justice, you can take the following actions:

• - Contact Levi & Korsinsky: Get in touch with Joseph E. Levi, Esq. who is available via email at email protected] or by phone at (212) 363-7500.
• - Visit the [Submission Link: This site will assist in facilitating your participation in the action against Civitas.

Conclusion

This is a pivotal moment for Civitas Resources investors, allowing them a chance to seek recompense for their financial losses. By understanding the critical time frames and reaching out for legal advice, affected individuals can safeguard their rights and potentially recover what they have lost due to allegations of securities fraud.