Lundin Law PC announces it is investigating claims against Cobalt International Energy, Inc. (“Cobalt” or the “Company”) (NYSE: CIE) concerning possible violations of federal securities laws. The investigation is related to allegations that certain statements issued by Cobalt were false and misleading and/or failed to disclose material information regarding the Company’s financial performance.
To participate in this class action lawsuit, please contact Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or via e-mail at brian@lundinlawpc.com.
No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
The investigation concerns whether the Company violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Specifically, the investigation will focus on Cobalt’s 2013 statements in press releases, presentations, and investor conference calls touting high earning potential for its two offshore oil wells, which were deceptive and false since the Company failed to investigate the probability of oil in the wells or to test them. On December 1, 2013 the Company revealed that one of the wells had more gas than expected. Cobalt then focused on, and touted, the other well’s oil potential. On November 4, 2014 the Company revealed negative financial results and also that the second offshore well had no oil.
Lundin Law PC was created by Brian Lundin, a securities litigator based in Los Angeles.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160628006702/en/
Contacts:
Brian Lundin, Esq.
Telephone: 888-713-1033
Facsimile:
888-713-1125
brian@lundinlawpc.com
