Civitas Resources(CIVI) GlobeNewswire News Room·2025-05-20 00:22Core Viewpoint - Rosen Law Firm is reminding investors who purchased Civitas Resources, Inc. securities during the specified class period of the upcoming lead plaintiff deadline on July 1, 2025, for a class action lawsuit related to misleading statements made by the company [1][2]. Group 1: Class Action Details - The class period for the lawsuit is from February 27, 2024, to February 24, 2025, inclusive [1]. - Investors may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [1]. - A class action lawsuit has already been filed, and interested parties must move the court to serve as lead plaintiff by July 1, 2025 [2]. Group 2: Allegations Against Civitas Resources - The lawsuit alleges that Civitas made materially false and misleading statements, failing to disclose significant reductions in oil production expected in 2025 due to declines in the DJ Basin and low TIL counts [3]. - It is claimed that increasing oil production would necessitate acquiring additional acreage, leading to significant debt and asset sales to offset acquisition costs [3]. - The company's financial condition is said to require disruptive cost-reduction measures, including significant workforce reductions, which were not disclosed [3]. - As a result, Civitas's business and financial prospects were overstated, making public statements false and misleading throughout the class period [3]. Group 3: Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved the largest settlement against a Chinese company at the time [4]. - The firm was ranked No. 1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017 and has consistently ranked in the top 4 since 2013 [4]. - In 2019, the firm secured over $438 million for investors, showcasing its capability in recovering significant amounts for clients [4].