CIVI FRAUD: Suffer Losses on Civitas Resources, Inc.? You may have been Affected by Fraud and are Urged to Contact BFA Law (NYSE:CIVI)
NEW YORK, May 25, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Civitas Resources, Inc. (NYSE: CIVI) and certain of the Company's senior executives for potential violations of the federal securities laws.
If you invested in Civitas you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/civitas-resources-inc.
Investors have until July 1, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors who purchased Civitas securities. The case is pending in the U.S. District Court for the District of New Jersey and is captioned Lin v. Civitas Resources., et al., No. 25-cv-03791.
Why was Civitas Sued for Securities Fraud?
Civitas is an oil and gas exploration and production company with its key assets located in the Denver-Julesburg Basin in Colorado and the Permian Basin in Texas and New Mexico. The complaint alleges that Civitas stated that both basins had 'enhanced recovery potential' and that it had 'driven production ahead of plans,' while touting 'enhanced margins through reduced operating costs' and insisting that 'costs are below expectations.'
In truth, the Company's oil production peaked in 2024, and increasing production would require Civitas to spend significant capital to acquire additional land, driving up costs.
The Stock Declines as the Truth is Revealed
On February 24, 2025, Civitas announced disappointing Q4 and full year 2024 results, and reduced its oil production guidance. The Company explained that oil production had peaked and it would need to spend hundreds of millions of dollars to acquire thousands of acres of new land to produce more oil. Civitas also announced that it was implementing a 10% reduction in its workforce to 'solidify the Company's low-cost structure.' On the same day, Civitas announced the immediate firings of its Chief Operating Officer and Chief Transformation Officer. On this news, the price of Civitas stock declined more than 18%, from a closing price of $49.30 per share on February 24, 2025, to $40.35 per share on February 25, 2025.
Click here if you suffered losses: https://www.bfalaw.com/cases-investigations/civitas-resources-inc.
What Can You Do?
If you invested in Civitas you may have legal options and are encouraged to submit your information to the firm.
All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
Submit your information by visiting:
https://www.bfalaw.com/cases-investigations/civitas-resources-inc
Or contact:
Ross Shikowitz
[email protected]
212-789-3619
Why Bleichmar Fonti & Auld LLP?
Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs' Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.'s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.
For more information about BFA and its attorneys, please visit https://www.bfalaw.com.
https://www.bfalaw.com/cases-investigations/civitas-resources-inc
Attorney advertising. Past results do not guarantee future outcomes.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
15 minutes ago
- Yahoo
Jewish deli offers traditional recipes and a taste of 'home' with new Westchester location
At a time when kosher delicatessens are closing more than opening, Epsteins, which has been in Hartsdale since 1969, has a second location. Their Somers spot, which opened June 9, has the same nostalgic vibe and Old School menu as Hartsdale (think pastrami on rye, knishes, matzoh ball soup and latkes), but is smaller, with about 40 seats as opposed to 125. Dale Stasi, who's owned the Hartsdale Epsteins since 2008, said she's long familiar with the area as her parents, who previously ran the business with her and her husband, Chris, used to live nearby in Heritage Hills. "This was an ideal location for us," said Stasi. "The community has been near and dear to our family so when we saw the opportunity to open here, we grabbed it." (The space had been a Mexican restaurant.) Dig in: Westchester restaurant scene heats up with 19 new spots this summer. See the list The history of Epsteins goes back to the Bronx when Seymour Epstein opened his first deli on Jerome Avenue in 1952. At one point he and his family owned five restaurants, including on Long Island and in Westchester. Along the way he sold them, including — in 2008 — to the Stasis who ran them with Dale's parents Robert DeGroat and Marion Rainone. (The Yonkers location, which closed last May, had, since 2008, not been affiliated with the Hartsdale location.) "In New York alone there used to be 500 kosher restaurants," said DeGroat. "Now there are less than 500 in the country." Still, Stasi believes it's a viable business. "The amount of people that have told us how happy they are we opened and how the food feels like their childhood has been overwhelming." "There's a strong sense of heritage in this cuisine and it's important that we keep it alive." That means traditional recipes that date back to the Bronx like stuffed cabbage, noodle kugel, potato latkes, kishke (also known as stuffed derma), kreplach, Hungarian goulash and brisket. More: Summer eats: Our food reporter's picks include Lower Hudson Valley's best lobster and more And, of course, pastrami, corned beef and brisket, the three of which are top sellers. Instructions on the menu advise diners to tell their server if they want their meat carved traditional (naturally fatty, juicy and full of flavor), trimmed (meaning some fat is removed) or first cut, which is super lean. For a taste of all three, they also offer a knish made with a mixture of each. Stasi is also particularly proud of their hot dogs which are another top seller. In a nod to the family that created it all, you'll also find Grandma's Trio (derma, cabbage and a meatball) which references Seymour's mother. Stasi said since Seymour (since deceased) started the company with his wife Gloria (also deceased) and brothers, there have only been three owners: Seymour, his nephew and the Stasis. And now new generations have found — and enjoyed — their food, with a lot of customers coming from Hartsdale or remembering them from when their bar or bat mitzvah was catered by Epsteins. "There's a comfort in going back to your roots," said Stasi. "These are traditional recipes that have been passed down for generations and I think people appreciate that. "It's like a little taste of home." Address: 325 Route 100 (in Somers Centre), Somers, 914-556-6393, Hours: 11 a.m. to 7 p.m. daily (subject to change). Good to Know: Outdoor dining to come. Have you been to Hartsdale? Epsteins' original location is at 387 Central Ave., (Dalewood Shopping Center), 914-428-5320. Want more info on dining in the lower Hudson Valley? My weekly newsletter is free — and often includes behind-the-scenes deets I don't always share in my stories. Sign up at Also, if you have news on restaurant openings or closings — or just want to say hi —email JRMuchnick@ Jeanne Muchnick covers food and dining. Click here for her most recent articles and follow her latest dining adventures on Instagram @jeannemuchnick or via the lohudfood newsletter. This article originally appeared on Rockland/Westchester Journal News: Epsteins in Somers NY: Jewish deli opens second Westchester location
Yahoo
16 minutes ago
- Yahoo
‘The market is as clueless as the Fed': Why this trader says stocks could continue to do well for months
As traders brace for a fresh round of U.S. inflation data this week, a new twist is developing in the way some are thinking about the likely impact of tariffs and the path that major asset classes could take from here. For Gang Hu, a trader at New York hedge fund WinShore Capital Partners, the conclusion is that stocks can still power higher no matter what this Wednesday's consumer-price index for May shows and despite continuing uncertainty about inflation. That's in contrast to the views held by many market participants through April 8 — when the Dow Jones Industrial Average DJIA, S&P 500 SPX and Nasdaq Composite COMP all fell to 52-week lows just three days after President Donald Trump's 10% baseline tariff on U.S. imports from most countries took effect following months of trade uncertainty. 'It might be another Apple or Microsoft': My wife invested $100K in one stock and it exploded 1,500%. Do we sell? 'The situation is extreme': I'm 65 and leaving my estate to only one grandchild. Can the others contest my will? 'I prepaid our mom's rent for a year': My sister is a millionaire and never helps our mother. How do I cut her out of her will? I bought my mother-in-law a condo — and she took out a $30,000 car loan. Now she refuses to get a roommate. 'He failed in his fiduciary duty': My brother liquidated our mother's 401(k) for her nursing home. He claimed the rest. One big reason for the current shift in thinking is that the full impact of tariffs is taking longer than expected to show up in the final price of goods, and it may take up to three more months for this to play out. Anecdotal information in the Federal Reserve's Beige Book report released last week revealed that, as of May, businesses planned to pass on tariff-related costs by August. This delayed impact from tariffs has since been factored into traders' expectations for the core CPI inflation rate that excludes food and energy, which is seen as likely to peak on a monthly basis in August. Traders of derivatives-like instruments known as fixings are now preparing for the monthly core CPI rate to rise to just over 0.4% in August, up from 0.2% for April, according to Hu's calculations. They expect this rate to then slide back down to below 0.2% for November and December, before inching up toward 0.3% again by next March. However, there's more to this than meets the eye, Hu said, and these numbers don't mean much of anything. 'In reality, the market is as clueless as the Fed,' Hu said via phone on Monday. 'The market is not currently pricing in any second inflationary impact in the form of a wage-inflation spiral, which could happen fast, and the market is not pricing in any recession impact.' What's more, previous fears of a U.S. recession have yet to come to fruition after years of speculation, even though recent data such as last week's jump in unemployment-benefit filings and a contraction in the services sector point to signs of a slowdown. The result is that the stock market has generally stabilized. On Monday, U.S. stocks closed mostly higher as traders awaited details of U.S.-China trade talks being held in London. The S&P 500 and Nasdaq Composite finished the session at their highest levels since February, at 6,005.88 and 19,591.24 respectively, despite lingering questions about the inflationary impacts of tariffs. Also on Monday, analysts at Barclays said signs of stagflation, or the unwelcome mix of slowing economic growth and increasing inflation, have 'crept back' into the data, and this week's inflation report has the potential to show 'the first real evidence of tariff-linked price pressures.' Even so, one-year BX:TMUBMUSD01Y through 30-year BX:TMUBMUSD30Y Treasury yields finished lower after a monthly survey from the Federal Reserve Bank of New York indicated nationwide consumer expectations for inflation had dropped in May. Hu has demonstrated a propensity for being on target with his thinking on inflation. In July 2022, he told MarketWatch that 'inflation is going to be stickier than most people imagine,' which turned out to be the case. Less than a year later, in February 2023, Hu said inflation could easily take more than a year to decline enough for the Fed to cut interest rates. The Fed raised borrowing costs to as high as 5.25%-5.5% in July of that year, then left them unchanged for more than a year before delivering its first rate cut in September 2024. According to Hu, tariffs are a bit of a double-edged sword. They have the potential to either drive the U.S. into a recession or lead to further inflation that keeps the Federal Reserve on hold at a benchmark rate of between 4.25% and 4.5%, creating a fairly wide range of possible outcomes for the economy in the months ahead. An example of just how wide the band of trading can be is illustrated by what has already happened this year: The S&P 500 and Nasdaq Composite reached their year-to-date closing highs of 6,144.15 and 20,056.25, respectively, in February. Less than two months later, on April 8, they fell to their lowest closing levels of the year, at 4,982.77 and 15,267.91. As of Monday, they rose back to their highest closing levels since February. For now, 'the market could be reasonably stable even in the presence of uncertainty,' Hu said. 'Rate-cut expectations could be either too low or too high, and 2025 cuts could easily be zero or 100 basis points in reality. Daily price changes could be very large, and we could go to the top and bottom of ranges very quickly, with few people fading anything in most asset prices. But all in all, prices stay in a range.' He added: 'The million-dollar question is, will there be a secondary impact of the initial inflation shock in the form of a wage-inflation spiral? By September, we should have a decent idea of whether there will be a secondary impact.' Economists polled by the Wall Street Journal expect the May consumer-price index released on Wednesday to produce a 2.5% annual headline rate and 0.3% monthly core rate that are both benign relative to April's data. The producer-price index for the same month, which follows on Thursday, is expected to show a 0.2% increase versus a month-over-month drop of 0.5% in April. My son, 39, will be released from prison in 2030. Do I leave him my $100K life insurance? 20 stocks bucking bad trends on Wall Street — what might be next for them? I have $1,000 in credit-card debt. Will I be able to hide my inheritance from the bank? How do I make sure my son-in-law doesn't get his hands on my daughter's inheritance? 20 stocks of companies that have improved profit margins and are expected to grow quickly Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fox News
17 minutes ago
- Fox News
Fox News Multimedia Reporters
The Fox News Multimedia Reporters is like no other program in the industry. Qualified candidates are positioned across the country to shoot, produce, edit, and report content for Fox News Media platforms. After two years of ongoing technical training, skill development, and mentorship, our reporters are positioned to become stronger journalists in the field. The Fox News Multimedia Reporters (MMR) is part of our company's ongoing mission to invest in talent. It was implemented in 2011 to build a pipeline for the next generation of skilled, hardworking multiplatform journalists. The Multimedia Reporters operate as one-person-bands with the ability to go live virtually anytime, anywhere. They are trained on top-of-the-line video equipment and streaming technology. Each day they gather news information, conduct live and taped interviews, write stories and deliver news reports on all Fox News Media platforms. Throughout this two-year experience, the reporters are provided with the tools, resources and guidance to develop a comprehensive skill set that prepares them for the future. The MMR program begins with an intensive week-long, hands-on technical training session at Fox News' New York City headquarters. The reporters are then dispatched to their locations where they receive daily guidance and feedback from management. We challenge the multimedia reporters to continually hone their journalistic skills and capabilities.
