Civitas Resources(US:CIVI) Prnewswire·2025-06-26 13:00Core Viewpoint - Civitas Resources, Inc. is facing allegations of misleading shareholders regarding its oil production capabilities and financial health, particularly in light of expected production declines in 2025 [1][2]. 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 [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, making public statements materially false and misleading [1]. Group 2: 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 potentially be appointed as lead plaintiffs [2]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the case's status [2]. Group 3: Law Firm's Mission - The Gross Law Firm aims to protect investors' rights who have suffered due to deceit, fraud, and illegal business practices [3]. - The firm is committed to ensuring companies adhere to responsible business practices and seeks recovery for investors affected by misleading statements that inflated stock prices [3].