#USA #New York #Class Action #Gross Law Firm #Civitas Resources

Civitas Resources Shareholders: Important Class Action Notice

On June 5, 2025, The Gross Law Firm released a crucial notice aimed at shareholders of Civitas Resources, Inc. (NYSE: CIVI). This notice serves as a call to action for individuals who purchased shares during a specified class period. Specifically, shareholders who acquired shares between February 27, 2024, and February 24, 2025, are encouraged to consider joining a class action lawsuit that holds the potential for recovery of losses incurred due to misleading corporate statements.

The Gross Law Firm is reaching out to shareholders to highlight the importance of their participation in this legal proceeding. With the deadline for joining the class action suit set for July 1, 2025, it’s vital for affected individuals to register without delay. This process not only facilitates involvement in the lawsuit but also allows shareholders to enroll in a portfolio monitoring software that will provide updates on the progress of the case throughout its lifecycle.

Allegations Against Civitas Resources

The lawsuit against Civitas Resources stems from various allegations concerning the company's business practices and financial disclosures. The key points of concern include:

1. Production Reductions: Civitas is accused of being highly likely to significantly decrease its oil production in 2025. This expected reduction is attributed to falling production levels following a peak in the DJ Basin at the end of 2024.
2. Debt and Asset Management: The company would need to acquire additional land and development locations to boost oil production. This acquisition could lead to substantial debt, pressing the company to sell corporate assets to manage those costs effectively.
3. Workforce Reductions: Civitas may be compelled to implement drastic cost-cutting measures, including a notable reduction in workforce size, due to its financial circumstances.
4. Misleading Public Statements: The allegations assert that Civitas's public statements regarding its business health and operational capabilities were materially false and misleading during the pertinent timeframe.

The implications of these allegations are serious, suggesting that the true state of Civitas's financial and operational standing was significantly misrepresented to investors, leading to an artificial inflation of its stock price.

What Shareholders Should Do

Shareholders are advised to act promptly. Interested parties can register by visiting the link provided in the initial notice. Participation does not require individuals to seek the lead plaintiff designation, making it accessible for all affected shareholders. The Gross Law Firm emphasizes that there is no financial obligation for those who join the class action.

Furthermore, the firm is committed to advocating for shareholder rights, particularly in circumstances where companies may have engaged in deceptive practices that unjustly benefitted their corporate standing.

As the deadline approaches, shareholders should not hesitate to explore their rights and avenues for recovery. This class action represents an opportunity for those impacted by misleading corporate actions to potentially regain some of their losses.

For further inquiries, shareholders can reach out to The Gross Law Firm at their New York office or through their contact methods listed in the original announcement.

With a strong commitment to protecting investor interests, The Gross Law Firm exemplifies the pursuit of responsible corporate behavior and accountability in business practices.