Glancy Prongay & Murray LLP announces that investors with losses have opportunity to lead the securities fraud class action lawsuit against Civitas Resources, Inc. (“Civitas” or the “Company”) (NYSE: CIVI).
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IF YOU SUFFERED A LOSS ON YOUR CIVITAS INVESTMENTS, CLICKHERE BEFORE JULY 1, 2025 (LEAD PLAINTIFF DEADLINE) TO PARTICIPATE IN THE SECURITIES FRAUD LAWSUIT
What Is The Lawsuit About? The complaint filed alleges that, between February 27, 2024 and February 24, 2025, Defendants failed to disclose to investors that: (1) Civitas was highly likely to significantly reduce its oil production in 2025 as a result of, inter alia, declines following the production peak at the DJ Basin in the fourth quarter of 2024 and a low TIL count at the end of 2024; (2) increasing its oil production would require the Company to acquire additional acreage and development locations, thereby incurring significant debt and causing the Company to sell corporate assets to offset its acquisition costs; (3) the Company's financial condition would require it to implement disruptive cost reduction measures including a significant workforce reduction; (4) accordingly, Civitas's business and/or financial prospects, as well as its operational capabilities, were overstated; and (5) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Contact Us To Participate or Learn More:If you wish tolearn moreabout this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us.CharlesLinehan, Esq.,Glancy Prongay & Murray LLP,1925 Century Park East, Suite 2100, Los Angeles California 90067 Email: shareholders@glancylaw.comTelephone: 310-201-9150 (Toll-Free: 888-773-9224) Visit our website atwww.glancylaw.com.Follow us for updates on LinkedIn, Twitter, or Facebook.
If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contact Us:Glancy Prongay & Murray LLP, 1925 Century Park East, Suite 2100,Los Angeles, CA 90067Charles LinehanEmail: shareholders@glancylaw.comTelephone: 310-201-9150Toll-Free: 888-773-9224Visit our website at:www.glancylaw.com.
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SOURCE Glancy Prongay & Murray LLP
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