Core Viewpoint - Civitas Resources, Inc. is facing allegations of misleading shareholders regarding its oil production capabilities and financial health, leading to a potential class action lawsuit [3][4]. Group 1: Allegations Against Civitas Resources - 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 [3]. - Increasing oil production would necessitate acquiring additional acreage and development locations, which could incur significant debt and require the sale of corporate assets to offset acquisition costs [3]. - The company's financial condition may force it to implement disruptive cost reduction measures, including significant workforce reductions [3]. - As a result, Civitas's business and financial prospects, as well as its operational capabilities, were overstated, leading to materially false and misleading public statements [3]. Group 2: Class Action Details - The class period for the lawsuit is from February 27, 2024, to February 24, 2025, with a deadline for shareholders to register by July 1, 2025 [3][4]. - Shareholders who register will be enrolled in a portfolio monitoring software to receive status updates throughout the case lifecycle [4]. - There is no cost or obligation for shareholders to participate in the case [4]. Group 3: Law Firm Information - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors who have suffered due to deceit, fraud, and illegal business practices [5]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors affected by false or misleading statements that led to artificial inflation of stock prices [5].

Core Viewpoint - A lawsuit has been filed against Civitas Resources, Inc. and its senior executives for potential violations of federal securities laws, alleging misleading statements regarding 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, with claims 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 reduced operating costs, but the lawsuit alleges that actual production peaked in 2024, requiring significant capital for further production [3]. Group 3: Stock Performance - Following the announcement of disappointing Q4 and full year 2024 results on February 24, 2025, Civitas's stock price fell over 18%, from $49.30 to $40.35 per share [4]. - The company also announced a 10% workforce reduction and the immediate firing of its Chief Operating Officer and Chief Transformation Officer [4].

Core Viewpoint - A class action lawsuit has been filed against Civitas Resources, Inc. for alleged violations of federal securities laws, specifically regarding misleading statements about oil production and financial conditions [1][2]. Group 1: Lawsuit Details - The lawsuit claims that Civitas made false and misleading statements about the likelihood of a reduction in oil production for 2025, particularly due to declines after the production peak at the DJ Basin [2]. - To increase production, Civitas would need to acquire new development locations, which could lead to significant debt [2]. - The company may have to implement cost-reduction measures, including layoffs, due to its financial condition [2]. Group 2: Shareholder Information - Shareholders who purchased Civitas securities between February 27, 2024, and February 24, 2025, are encouraged to contact the law firm before July 1, 2025, to participate in the lawsuit [1][3].

Core Viewpoint - A securities class action lawsuit has been filed against Civitas Resources, Inc. for failing to disclose significant operational challenges during the Class Period from February 27, 2024, to February 24, 2025 [1][3]. Group 1: Lawsuit Details - The lawsuit is on behalf of investors who purchased Civitas securities during the specified Class Period [1]. - Investors have until July 1, 2025, to seek appointment as lead plaintiff representative of the class [2]. Group 2: Company Performance and Outlook - Civitas reported Q4 and full-year 2024 revenue of $1.29 billion, missing consensus estimates by $3.44 million, with non-GAAP earnings per share of $1.78, also missing estimates by $0.21 [4]. - The company’s net income for the quarter was $151.1 million, or $1.57 per share, down from $302.9 million, or $3.23 per share, in the same quarter the previous year [4]. - Civitas announced a 10% workforce reduction and the termination of its COO and CTO on February 24, 2025, citing lower production volumes primarily due to declines in the DJ Basin [5]. Group 3: Market Reaction - Following the announcement of disappointing financial results and operational challenges, Civitas's stock price fell by $8.95, or 18%, closing at $40.35 per share on February 25, 2025 [6].

Core Viewpoint - A lawsuit has been filed against Civitas Resources, Inc. and its senior executives for potential violations of federal securities laws, alleging misleading statements regarding 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, with claims 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 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].

NEW YORK, May 27, 2025 /PRNewswire/ -- 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: WHAT'S NEXT? If you suffere ...

Core Viewpoint - Civitas Resources, Inc. is facing a class action lawsuit due to alleged misleading statements regarding its oil production and financial condition during the 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 in 2025 and the need for additional debt to acquire more acreage [3]. Group 2: Allegations Against Civitas - Allegations include that Civitas would need to implement disruptive cost-reduction measures, including significant workforce reductions, due to its financial condition [3]. - The lawsuit asserts that Civitas' public statements regarding its business and financial prospects were overstated, leading to investor damages when the true situation was revealed [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].

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 previously 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 this announcement, Civitas's stock price dropped over 18%, from $49.30 per share to $40.35 per share [4].

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 health [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 at 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 is said to require 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 exceeding $100,000 in Civitas between February 27, 2024, and February 24, 2025, are encouraged to discuss their legal rights with Faruqi & Faruqi [1]. - There is a July 1, 2025, deadline for investors to seek the role of lead plaintiff in the federal securities class action filed against Civitas [3]. - The firm is also seeking information from whistleblowers, former employees, and shareholders regarding Civitas's conduct [9].

NEW YORK, May 23, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Civitas Resources, Inc. (NYSE: CIVI) and certain of the Company’s senior executives for potential violations of the federal securities laws. If you invested in Civitas you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/civitas-resources-inc. Investors have until July 1, 2025, to ask the Court to be appointed ...