#United States #New York #Securities Law #Levi Korsinsky #Civitas Resources

Civitas Resources Faces Class Action Lawsuit

Civitas Resources, Inc., traded on the NYSE under the symbol CIVI, is currently in the midst of a class action lawsuit over allegations of securities law violations. The legal team at Levi & Korsinsky, LLP is notifying investors who may have suffered financial losses due to these alleged breaches.

The Nature of the Allegations

According to the lawsuit, the allegations arise from a period spanning from February 27, 2024, to February 24, 2025. During this timeframe, Civitas is accused of making misleading public statements that inflated the company's business prospects and capabilities. Key points in the allegations include:

1. Production Decline: Civitas is believed to have faced a significant reduction in oil production in 2025. This decline followed a peak in production at the DJ Basin in late 2024, raising concerns about the company's operational future.
2. Debt Concerns: In order to increase oil production, the company would need to acquire additional land and assets, leading to significant debt accumulation. This risky maneuver could force Civitas into the sale of corporate assets to offset its costs.
3. Workforce Reductions: The need for cost-cutting measures, including workforce reductions, was a significant concern that may affect the company's financial stability, which further complicates its operational capabilities.
4. Misrepresentation: The lawsuit claims that Civitas misrepresented its positive outlooks and financial health to investors, presenting a misleading image.

What Investors Need to Know

Investors who feel they have been affected by these events are encouraged to act promptly. They have until July 1, 2025, to request appointment as lead plaintiff in the case, although it’s not a requirement to claim shares in any recovery. Those interested can access more information through Levi & Korsinsky's website or directly contact a member of their team.

No Upfront Costs to Investors

One of the most notable aspects of this class action is that investors do not need to bear any out-of-pocket costs when participating. If they are deemed class members, they may be entitled to compensation without financial risk. Levi & Korsinsky emphasizes their commitment to protecting investor rights, utilizing a strong track record over the past 20 years to secure substantial settlements for their clients.

Why Choose Levi & Korsinsky?

Recognizing the firm’s expertise can be crucial for impacted shareholders. Levi & Korsinsky boasts a team of over 70 professionals with extensive knowledge in securities litigation. They have consistently ranked among the top firms in the United States for handling high-stakes class actions, which should instill confidence in potential plaintiffs.

Next Steps

If you have suffered financial losses linked to Civitas Resources during the specified timeframe, now is the time to reach out. By contacting Levi & Korsinsky, you can take the first step in protecting your rights as an investor. With the implications of this lawsuit being significant, it’s crucial for investors to stay informed and proactive.

For further inquiries or to discuss your potential involvement in this case, contact Joseph E. Levi, Esq. at [email protected] or call (212) 363-7500. More details can be found on their official website at zlk.com.

The outcome of this class action could have substantial implications for current and former investors in Civitas Resources, making participation essential for seeking justice and financial recovery.