#USA #New York #Securities Fraud #Rosen Law Firm #Civitas Resources

The Opportunity for CIVI Investors: Join the Class Action Lawsuit

In a developing situation for investors in Civitas Resources, Inc. (NYSE: CIVI), a global law firm dedicated to investor rights, Rosen Law Firm, has recently filed a class action lawsuit aimed at protecting the interests of those who purchased securities from Civitas Resources. This lawsuit seeks to address serious allegations of securities fraud, bringing forward essential claims for those impacted during a specified timeframe.

The class period defined in this lawsuit stretches from February 27, 2024, to February 24, 2025, a crucial window where investors purchased Civitas securities under potentially misleading circumstances. For those interested in taking an active role in this legal battle, there’s a pressing timeline involved. Interested parties must move forward and file to serve as lead plaintiff by July 1, 2025. The lead plaintiff will play a significant role in directing the litigation on behalf of all class members.

Understanding the Allegations

According to the lawsuit, during the mentioned class period, Civitas allegedly issued materially false and misleading statements regarding its business and operational prospects. Significant claims include:

1. Production Reduction: It was disclosed that Civitas was likely to significantly cut back on its oil production in 2025. This decline stemmed from a peak in production at the DJ Basin, with factors leading to this decrease including a low TIL (Time to First Production) count at the end of 2024.
2. Debt Incurrence for Expansion: The lawsuit claims that increasing oil production would compel Civitas to incur substantial debt due to the need to acquire additional acreage and development locations, ultimately affecting the company’s financial stability.
3. Disruptive Cost Reductions: The allegations additionally state that Civitas's financial condition would necessitate disruptive measures, including significant workforce reductions, indicating an alarming trend in the company’s operational strategy.
4. False Financial Statements: It is alleged that the company left investors in the dark regarding its deteriorating business prospects, with public statements made by Civitas being potentially inaccurate and misleading.

These allegations cast a shadow over the company's financial integrity and prospects, highlighting why this lawsuit can be critical for affected investors.

How to Join the Lawsuit

For investors concerned about their investment in Civitas Resources, joining the class action could provide a path for potential compensation without incurring out-of-pocket expenses via a contingency fee arrangement. Those who want to partake in this class action should visit Rosen Law Firm's submission form to express their interest.

For personalized inquiries, investors can also contact Phillip Kim, Esq. at 866-767-3653 or reach out via email at [email protected] for further details on the class action's progress.

Why Choose Rosen Law Firm?

Rosen Law Firm is renowned for its experience and expertise in securities class actions and shareholder derivative litigation. The firm has successfully secured large settlements in prior cases, establishing a strong reputation in the realm of consumer rights and investor protection. They continually encourage investors to seek qualified legal counsel with a proven track record, emphasizing the importance of representation in such critical legal matters.

Conclusion

As the situation unfolds, CIVI investors should remain vigilant and informed. Engaging with the class action lawsuit not only addresses past grievances but may also assist in reclaiming some of the losses incurred due to potential fraud. To ensure that your voice is heard and your interests represented, acting promptly is essential.