| COMPANY |
Civitas Resources, Inc. |
| COURT |
United States District Court for the District of New Jersey |
| CASE NUMBER |
2:25-cv-03791 |
| JUDGE |
The Hon. Esther Salas |
| CLASS PERIOD |
February 27, 2024 through February 24, 2025 |
| SECURITY TYPE |
Securities |
LEAD PLAINTIFF DEADLINE IS JULY 1, 2025.
If you have suffered losses and would like to discuss your rights, please fill out this form or you may contact Jonathan Naji, Esq. at (484) 270-1453 or via e-mail at info@ktmc.com.
Case Background:
A class action lawsuit was filed on behalf of those who purchased or otherwise acquired Civitas Resources, Inc. (“Civitas”) (NYSE: CIVI) securities between February 27, 2024, and February 24, 2025, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material facts about the company’s business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) Civitas was highly likely to significantly reduce its oil production in 2025 , as a result of declines following the production peak at the DJ Basin in the fourth quarter of 2024, and a low TIL count at the end of 2024; (2) increasing oil production would require the company to acquire additional acreage and development locations, thereby incurring significant debt and causing the company to sell corporate assets to offset its acquisition costs; (3) the company’s financial condition would require it to implement disruptive cost reduction measures including a significant workforce reduction; and (4) as a result, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
What is a Lead Plaintiff?
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Filling out the online form above or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.