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Class Action Lawsuit Notice for Civitas Resources, Inc. Shareholders

The Gross Law Firm would like to draw attention to an important update for shareholders of Civitas Resources, Inc. (NYSE: CIVI). Those who acquired shares during the defined class period are strongly encouraged to reach out to the firm regarding an opportunity to be appointed lead plaintiff in the ongoing class action lawsuit.

Class Period and Allegations

The class period is established from February 27, 2024 to February 24, 2025. The allegations in this lawsuit stem from serious concerns regarding Civitas's ability to sustain its operations. Specifically, the firm claims that:

1. Civitas is anticipated to significantly reduce its oil production in the year 2025. This prediction arises from declining outputs recorded after reaching a peak production level in the DJ Basin towards the end of 2024 and from a low TIL count at the conclusion of that same year.
2. Should Civitas aim to increase oil production, it will necessitate acquiring additional land and development locations. This, in turn, is projected to lead to considerable debt for the company, potentially forcing it to dispose of corporate assets to manage these heightened costs.
3. The financial health of Civitas would compel the company to adopt drastic cost-cutting strategies, including substantial workforce reductions.
4. As a result, the operational capabilities and overall business prospects of Civitas were likely overstated, misleading investors about the true state of the company’s financial standing.

5. Consequently, public statements issued by Civitas were deemed materially false and misleading at all relevant times.

Important Deadline

The critical deadline for shareholders to seek lead plaintiff status is set for July 1, 2025. It is imperative that shareholders act promptly, as delays may impede their ability to participate in the class action. If you purchased shares of Civitas during the noted timeframe, you should consider registering at the following link:
Register Here

Next Steps for Shareholders

Following registration, shareholders will have access to portfolio monitoring software that will keep them informed about the case's progression. Participation in this case entails no costs or obligations for concerned shareholders.

Why Choose the Gross Law Firm?

The Gross Law Firm stands as a nationally acknowledged law firm dedicated to class action lawsuits. Their primary mission is to safeguard the rights of investors who may have incurred losses due to fraudulent practices and illegal business conduct. The firm is committed to holding companies accountable for their actions and ensuring fair corporate governance. The professionals at the Gross Law Firm aim to pursue recoveries for investors impacted by misleading statements or omissions of vital information that artificially inflated stock prices.

Contact Information

For anyone interested in seeking registration or gaining more insights, reach out to:

The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: [email protected]
Phone: (646) 453-8903

Investors are encouraged to take decisive action before the approaching deadline to safeguard their interests.