#United States #New York #Securities Fraud #Civitas Resources #sharehold lawsuit

Class Action Lawsuit Against Civitas Resources

Levi & Korsinsky, LLP has alerted investors of Civitas Resources, Inc. (NYSE: CIVI) about a class action securities lawsuit that seeks to recover losses incurred due to alleged securities fraud. This legal action focuses on a range of issues that negatively impacted shareholders between February 27, 2024, and February 24, 2025.

Class Definition and Case Details

The class action lawsuit aims to benefit Civitas Resources investors who were adversely affected by misleading statements and omissions related to the company’s business operations and financial health during the specified period. The legal representatives argue that Civitas was likely to significantly reduce its oil production in 2025, which was attributed to several factors:

1. Significant declines in production following a peak at the DJ Basin in late 2024.
2. A low TIL count at the end of 2024 that hindered production capacity.
3. In order to boost oil production, Civitas would need to acquire additional acreage and development locations, potentially leading to significant debt acquisition and the need to divest corporate assets to offset these costs.
4. The firm would face a financial condition requiring disruptive cost-cutting measures, including substantial workforce reductions.

Given these issues, it is alleged that Civitas’s business and financial prospects, along with its operational capabilities, were grossly exaggerated. Consequently, statements made publicly by the company were materially misleading at all relevant times.

Next Steps for Investors

Shareholders who experienced losses involving Civitas Resources during the specified timeline have until July 1, 2025, to initiate proceedings for the appointment of a lead plaintiff. It is essential to note that participation in any recovery does not necessitate serving as a lead plaintiff, making the process accessible for all affected investors.

No Costs Associated

Investors should feel relieved as there is no financial burden to participate in this legal action. Class members may be entitled to compensation without being responsible for any out-of-pocket fees or costs. Levi & Korsinsky emphasizes that there’s no obligation to join the lawsuit.

Why Levi & Korsinsky?

With over 20 years of experience, Levi & Korsinsky has successfully secured hundreds of millions of dollars for shareholders and is recognized for their proficiency in securities litigation. The firm, noted for its expertise in handling complex legal issues, boasts a team of over 70 employees dedicated to serving the interests of its clients. For seven consecutive years, the firm has been recognized in ISS Securities Class Action Services' Top 50 Report, underscoring its standing as one of the leading securities litigation providers in the U.S.

Contact Information

Investors needing more information about their rights or about the ongoing lawsuit can reach out to Joseph E. Levi, Esq. via email at email protected] or call (212) 363-7500. Information can also be found on their website [Levi & Korsinsky.

Through this ongoing lawsuit, Civitas Resources investors have an opportunity to pursue justice and recover their losses incurred during a challenging time for the company.