Core Viewpoint - A lawsuit has been filed against Civitas Resources, Inc. and its senior executives for potential violations of federal securities laws, specifically under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [1][2]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the District of New Jersey, captioned Lin v. Civitas Resources, et al., No. 25-cv-03791 [2]. - Investors have until July 1, 2025, to request to be appointed to lead the case [2]. Group 2: Company Background - Civitas Resources is an oil and gas exploration and production company with key assets in the Denver-Julesburg Basin in Colorado and the Permian Basin in Texas and New Mexico [3]. - The company claimed to have "enhanced recovery potential" and "driven production ahead of plans," while asserting that costs were below expectations [3]. Group 3: Financial Performance and Stock Impact - On February 24, 2025, Civitas announced disappointing Q4 and full year 2024 results, revealing that oil production had peaked and would require significant capital investment to increase production [4]. - Following the announcement, Civitas's stock price dropped over 18%, from $49.30 per share to $40.35 per share [4].

Core Viewpoint - Civitas Resources, Inc. is facing a class action lawsuit due to allegedly misleading statements regarding its oil production and financial condition during the specified class period from February 27, 2024, to February 24, 2025 [1][3]. Group 1: Class Action Details - The Rosen Law Firm is reminding investors who purchased Civitas securities during the class period of the July 1, 2025, deadline to become a lead plaintiff in the class action [1][2]. - The lawsuit claims that Civitas made materially false statements and failed to disclose significant risks, including a likely reduction in oil production and the need for substantial debt to acquire additional acreage [3]. Group 2: Allegations Against Civitas - Allegations include that Civitas would significantly reduce oil production in 2025 due to declines in the DJ Basin and low TIL counts [3]. - The company’s financial condition was said to necessitate disruptive cost-reduction measures, including workforce reductions, which were not disclosed to investors [3]. - The lawsuit asserts that Civitas overstated its business and financial prospects, leading to investor damages when the true situation became known [3]. Group 3: Rosen Law Firm's Credentials - The Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements and being recognized for its success in the field [4]. - The firm emphasizes the importance of selecting qualified legal counsel with experience in leading securities class actions [4].

LOS ANGELES, June 05, 2025 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP reminds investors of the upcoming July 1, 2025 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Civitas Resources, Inc. (“Civitas” or the “Company”) (NYSE: CIVI) securities between February 27, 2024 and February 24, 2025, inclusive (the “Class Period”). IF YOU SUFFERED A LOSS ON YOUR CIVITAS INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIM ...

NEW YORK, June 05, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Civitas Resources, Inc. ("Civitas Resources" or the "Company") (NYSE: CIVI) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Civitas Resources investors who were adversely affected by alleged securities fraud between February 27, 2024 and February 24, 2025. Follow the link below to get more information and be contacted by a member of our team: https://zlk.com/pslra- ...

Core Viewpoint - Civitas Resources, Inc. is facing allegations of misleading shareholders regarding its oil production capabilities and financial health, particularly concerning a significant reduction in oil production anticipated for 2025 [1][2]. Allegations Summary - Civitas is likely to significantly reduce its oil production in 2025 due to declines following a production peak at the DJ Basin in Q4 2024 and a low TIL count at the end of 2024 [1]. - Increasing oil production would necessitate acquiring additional acreage and development locations, leading to significant debt and potential asset sales to cover acquisition costs [1]. - The company's financial condition may force it to implement disruptive cost reduction measures, including substantial workforce reductions [1]. - As a result, Civitas's business and financial prospects, as well as its operational capabilities, were overstated [1]. - The public statements made by the company were materially false and misleading throughout the relevant period [1]. Class Action Details - The class period for shareholders who purchased shares of Civitas is from February 27, 2024, to February 24, 2025 [1]. - Shareholders are encouraged to register for the class action by July 1, 2025, to participate in potential recovery [2]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the case's status [2].

Group 1 - Civitas Resources (NYSE: CIVI) issued $750 million in new unsecured notes to reduce part of its credit facility debt and enhance liquidity for its October 2026 notes [1] - The company aims to manage its financial obligations effectively while ensuring sufficient liquidity for future needs [1] Group 2 - The investment group Distressed Value Investing focuses on value opportunities and distressed plays, particularly in the energy sector [2] - The author of the investment group has over 15 years of analytical experience and has previously co-founded a mobile gaming company [2]

Financial Data and Key Metrics Changes - The company has ratified the selection of Deloitte and Touche LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025 [4] - The compensation of named executive officers has been approved on an advisory basis [4] Business Line Data and Key Metrics Changes - No specific data or metrics related to individual business lines were provided in the meeting [1][2] Market Data and Key Metrics Changes - No specific market data or metrics were discussed during the meeting [1][2] Company Strategy and Development Direction and Industry Competition - The meeting focused on the election of board members and the approval of accounting firm selection, indicating a stable governance structure [1][4] - The company is maintaining its current strategic direction without any new initiatives mentioned during the meeting [1][4] Management Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook during the meeting [5][6] Other Important Information - The polls for voting on the proposals were officially closed, and the preliminary vote report indicated that all nominees for the board of directors were duly elected [3][4] - A written report of the final vote count will be included in the minutes of the meeting and reported on a Form 8-K within four business days [4] Q&A Session All Questions and Answers - No questions were submitted during the Q&A session, and the meeting concluded without addressing any inquiries from stockholders [5][6]

Core Viewpoint - A lawsuit has been filed against Civitas Resources, Inc. and its senior executives for potential violations of federal securities laws, specifically related to misleading statements about the company's production capabilities and costs [1][2][3]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the District of New Jersey, titled Lin v. Civitas Resources, et al., No. 25-cv-03791, and claims are made under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [2]. - Investors have until July 1, 2025, to request to be appointed to lead the case [2]. Group 2: Company Background - Civitas Resources is an oil and gas exploration and production company with key assets in the Denver-Julesburg Basin in Colorado and the Permian Basin in Texas and New Mexico [3]. - The company claimed to have "enhanced recovery potential" and "driven production ahead of plans," while asserting that costs were below expectations [3]. Group 3: Financial Performance and Stock Impact - On February 24, 2025, Civitas announced disappointing Q4 and full year 2024 results, revealing that oil production had peaked and that significant capital would be needed to acquire new land for further production [4]. - Following the announcement, Civitas's stock price dropped over 18%, from $49.30 per share to $40.35 per share [4].

Group 1 - iREIT+HOYA Capital focuses on income-producing asset classes that provide sustainable portfolio income, diversification, and inflation hedging [1] - The energy sector is highlighted as a favorable area for finding high-yield investment opportunities, despite elevated risks [2] Group 2 - The article emphasizes the importance of a long-term investment horizon for potential substantial benefits in the energy sector [2]

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Civitas Resources, Inc. due to allegations of violations of federal securities laws, particularly concerning misleading statements about the company's oil production and financial condition [3][5]. Group 1: Allegations Against Civitas - The complaint alleges that Civitas was likely to significantly reduce its oil production in 2025 due to declines following a production peak in the DJ Basin in Q4 2024 and a low TIL count at the end of 2024 [5]. - It is claimed that increasing oil production would necessitate acquiring additional acreage and development locations, leading to significant debt and asset sales to offset acquisition costs [5]. - The company's financial condition reportedly required disruptive cost-reduction measures, including a significant workforce reduction [5]. - As a result, Civitas's business and financial prospects, as well as operational capabilities, were overstated, making public statements materially false and misleading [5]. Group 2: Financial Performance and Market Reaction - On February 24, 2025, Civitas reported its Q4 and full-year financial results, missing consensus estimates in revenue and non-GAAP EPS, and announced a 10% workforce reduction [6]. - Following this news, Civitas's stock price fell by $8.95, or 18.2%, closing at $40.35 per share on February 25, 2025, resulting in investor losses [7]. Group 3: Legal Proceedings and Investor Actions - Investors who suffered losses in Civitas are encouraged to contact Faruqi & Faruqi to discuss their legal rights, with a deadline of July 1, 2025, to seek the role of lead plaintiff in the class action [3][9]. - The lead plaintiff is defined as the investor with the largest financial interest in the relief sought, who will oversee the litigation on behalf of the class [8].