Upcoming Deadline for Civitas Resources Class Action Lawsuit: Investors Must Act by July 1, 2025

Civitas Resources Class Action Update

Investors are being urged to take note as a securities class action lawsuit has recently been filed against Civitas Resources, Inc. (NYSE: CIVI). This lawsuit comes as a response to potential securities fraud that affected investors during the defined class period from February 27, 2024, to February 24, 2025.

Key Details of the Class Action

Berger Montague, a renowned law firm specializing in securities cases, has taken a lead role in informing investors of their rights and the necessary actions they should consider. Those who purchased Civitas securities during the class period are encouraged to seek appointment as a lead plaintiff representative by the approaching deadline of July 1, 2025. This signifies an opportunity for them to influence the direction of the class action.

Background of Civitas Resources

Civitas, headquartered in Denver, specializes in the exploration and production of crude oil and natural gas. Their latest financial results, disclosed on February 24, 2025, included quarterly revenue of $1.29 billion, a figure that disappointingly fell short of analysts’ consensus estimates by $3.44 million. Furthermore, non-GAAP earnings per share stood at $1.78, which also missed the anticipated estimates by $0.21.

In addition to the financial report, Civitas provided a concerning overview for 2025, indicating declining volumes driven primarily by the DJ Basin and outlined a significant reduction in its workforce across the board by 10%. This announcement also saw leadership changes, including the termination of Chief Operating Officer Hodge Walker and Chief Transformation Officer Jerome Kelly.

These revelations significantly impacted Civitas's stock price, causing a sharp decline of $8.95, equating to an 18% drop, resulting in a closing share price of $40.35 on February 25, 2025.

How to Get Involved

Investors wanting to understand their rights or who wish to learn more about participating in the lawsuit can find detailed information through Berger Montague's official channels. The lead plaintiff role is vital in securities class actions as it allows individuals with a substantial financial stake to oversee the litigation effectively. Interested parties can reach out to Berger Montague directly through Senior Counsel Andrew Abramowitz at [email protected] or call (215) 875-3015, or contact Peter Hamner via [email protected] for further inquiries.

Conclusion

As the deadline approaches, affected investors must understand their options and act promptly to ensure their voices are heard in this matter concerning Civitas Resources. Such situations underscore the importance of vigilance in the investment landscape, particularly as companies navigate financial challenges and disclose information related to their operations.

Remember, participating as a lead plaintiff is not mandatory to share in any recovery from the case, nor does communicating with counsel impact one’s eligibility as a passive class member. Investors are afforded the choice to either step up as lead plaintiffs or remain active members of the class, awaiting the outcome of the legal process.

Stay informed and be proactive in shaping the future of your investments as these legal proceedings develop.