Levi & Korsinsky Alerts Civitas Resources, Inc. Investors About Class Action Suit and Important Deadline

Overview of the Class Action Lawsuit Against Civitas Resources, Inc.

Levi & Korsinsky, LLP has reached out to investors of Civitas Resources, Inc. (referred to as Civitas Resources or the Company, trading on NYSE under the ticker symbol CIVI), to notify them of an upcoming class action lawsuit. The lawsuit concerns alleged securities fraud that affected investors adversely during a specified time frame from February 27, 2024, to February 24, 2025.

The Class Action's Purpose

The primary aim of the lawsuit is to seek financial compensation for investors who suffered losses as a result of misleading statements by the Company. It has been alleged that Civitas was likely to face a significant reduction in oil production in 2025 due to a peak in production at the DJ Basin observed in late 2024, and a low TIL count by the end of that year.

Moreover, the Company’s challenges in increasing oil production would necessitate acquiring more acreage and development locations, leading to substantial debt. These financial difficulties reportedly prompted the necessity for significant corporate cost-cutting measures, including substantial workforce reductions, ultimately impacting the business and financial outlook. The allegations assert that Civitas overstated its operational capabilities and overall business prospects, resulting in materially false and misleading public statements.

Important Next Steps for Investors

For investors who have incurred losses during the designated period, it is important to note that the deadline to request appointment as lead plaintiff is set for July 1, 2025. However, it is emphasized that participating in any recovery does not necessitate serving as the lead plaintiff.

If you believe you have been affected, you can contact Levi & Korsinsky directly for further details. Interested parties can reach out by filling out a submission form available through their official website. Contact details for Joseph E. Levi, Esq., the lead attorney handling this case, are also provided for direct inquiries.

No Financial Obligation to Participate

A vital aspect for potential claimants is that participation in this class action legal proceeding poses no financial burden. Class members may be entitled to compensation while avoiding any out-of-pocket costs or fees. Participation does require no advance costs, and the law firm ensures there is no obligation to engage.

Profile of Levi & Korsinsky, LLP

For over two decades, Levi & Korsinsky has established itself as a formidable presence in the field of securities litigation. They have successfully secured hundreds of millions of dollars for investors and have been recognized multiple years in ISS Securities Class Action Services as one of the top firms in the United States for handling securities litigation. With a dedicated team of over 70 professionals, they possess deep expertise in representing clients navigating complex investment-related legal matters.

In conclusion, Civitas Resources investors are encouraged to stay informed about the ongoing class action lawsuit and take timely action to safeguard their rights and potential recovery options. This situation emphasizes the critical importance of transparency and truthful disclosures in the corporate world. Keeping aware of such developments is essential for maintaining the integrity of investor relations and trust in the market.