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Shareholders that lost money on Civitas Resources, Inc.(CIVI) Urged to Join Class Action – Contact Levi & Korsinsky to Learn More
Civitas ResourcesCivitas Resources(US:CIVI) GlobeNewswire News Room·2025-05-08 17:52

Core Viewpoint - Civitas Resources, Inc. is facing a class action securities lawsuit due to alleged securities fraud that affected investors between February 27, 2024, and February 24, 2025 [1] Group 1: Lawsuit Details - The lawsuit claims that 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 [2] - Increasing oil production would necessitate acquiring additional acreage and development locations, leading to significant debt and potential asset sales to offset acquisition costs [2] - The financial condition of Civitas may require disruptive cost reduction measures, including a significant workforce reduction [2] - Consequently, the business and financial prospects, as well as operational capabilities of Civitas, were allegedly overstated, making public statements materially false and misleading [2] Group 2: Next Steps for Investors - Investors who suffered losses during the relevant timeframe have until July 1, 2025, to request the Court to appoint them as lead plaintiff, although participation does not require serving as a lead plaintiff [3] - Class members may be entitled to compensation without any out-of-pocket costs or fees [3] Group 3: Firm Background - Levi & Korsinsky has a history of securing hundreds of millions of dollars for shareholders and has a strong track record in high-stakes cases [4] - The firm has extensive expertise in complex securities litigation and has been ranked in the Top 50 Report by ISS Securities Class Action Services for seven consecutive years [4]