The law firm of Lieff Cabraser Heimann & Bernstein, LLP reminds investors of the February 2, 2015 deadline to move for appointment as lead plaintiff in the securities class action litigation brought on behalf of those who purchased or otherwise acquired the securities of Cobalt International Energy, Inc. (“Cobalt”) (NYSE: CIE) between February 21, 2012 and November 4, 2014, inclusive (the “Class Period”).
If you purchased or otherwise acquired Cobalt securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than February 2, 2015. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.
Cobalt investors who wish to learn more should click here or contact Sharon M. Lee of Lieff Cabraser toll-free at 1-800-541-7358.
The actions allege that during the Class Period, Cobalt and certain of its senior executives issued materially false and misleading statements to the public about Cobalt’s operations in the Republic of Angola (“Angola”) and the value of its Angolan wells. Defendants claimed that Cobalt was a company with “world class,” “large” and “oil-focused” wells in Angola and claimed that Cobalt legally gained access to those wells. In truth, Cobalt obtained access to the wells by partnering with shell companies that were partially owned by high-level Angolan officials, putting Cobalt at serious risk of enforcement action by the Securities and Exchange Commission (“SEC”) and the U.S. Department of Justice for violations of the U.S. anti-corruption and federal securities laws. In addition, Cobalt misrepresented the value of its Angolan wells after it learned that they contained very little or no oil.
Investors first began to learn of defendants’ wrongful conduct when: (i) on December 1, 2013, Cobalt revealed negative results from its Lontra well offshore Angola; (ii) on August 5, 2014, Cobalt announced that the SEC had issued a Wells Notice to Cobalt; and (iii) on November 4, 2014, Cobalt disclosed negative results regarding its Loengo well offshore Angola. In response to these disclosures, the prices of Cobalt securities fell sharply.
About Lieff Cabraser
Lieff Cabraser is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.
For eleven years, the National Law Journal has selected Lieff Cabraser as one of the top plaintiffs’ law firms in the nation. Best Lawyers and U.S. News have also named Lieff Cabraser as a “Law Firm of the Year” each year the publications have given this award to law firms.
For more information about Lieff Cabraser and the firm’s representation of investors, please visit http://www.lieffcabraser.com.
Contacts:
Sharon M. Lee,
415-956-1000
