The Shuman Law Firm Investigates Cobalt International Energy, Inc.

The Shuman Law Firm announces that it is investigating potential claims against certain officers and directors of Cobalt International Energy, Inc. (“Cobalt” or the “Company”) (NYSE: CIE). Cobalt is a Houston, TX-based company operating as an oil and gas exploration and production company.

The Firm’s investigation relates to whether certain current and/or former senior officers and directors breached their fiduciary duties to the Company. The Firm’s investigation relates to allegations raised in two separate lawsuits filed against Cobalt, currently pending in U.S. District Court for the Southern District of Texas and the District Court of Harris County, Texas. These lawsuits allege that senior officers and/or directors of Cobalt made misleading statements concerning the existence of oil in two of the Company's major wells located offshore of Angola while contemporaneously allowing insiders to profit via a secondary offering of stock. Collectively, these insiders are alleged to have sold 50 million shares of Cobalt stock for proceeds of more than $1 billion. Shortly following the secondary stock offering, Cobalt announced that the Angola field “contained more gas than pre-drill estimates” and that the Company did not own the gas rights and the Company’s second well was a “dry hole.” Following this disclosure, the Company’s stock price fell nearly 17% and erased more than 1.9 billion in equity.

If you currently own Cobalt common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 569-4531 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.

The Shuman Law Firm represents investors throughout the nation, concentrating its practice in stockholder litigation.

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