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Cobalt International Energy, Inc. CIE Securities Lawsuit

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Company: Cobalt International Energy, Inc.
Ticker Symbol: CIE
Class Period: Feb-21-12 to Aug-4-14
Date Filed: Dec-29-14
Lead Plaintiff Deadline: Feb-27-15
Court: Southern District of Texas
Allegations:
Los Angeles, CA: A securities class action lawsuit has been filed against Cobalt International Energy, Inc. CIE, -0.22% ("Cobalt" or "the Company"). The suit is pending in US District Court for the Southern District of Texas.

The complaint was filed on behalf of investors who purchased Cobalt securities between February 21, 2012 and August 4, 2014 (the "Class Period"), including purchasers of (i) Cobalt's common stock pursuant and/or traceable to registered public offerings conducted on or about February 23, 2012, January 16, 2013 and May 8, 2013; (ii) Cobalt's 2.65% Convertible Senior Notes due 2019, pursuant and/or traceable to the registered public offering conducted on or about December 12, 2012; and/or (iii) Cobalt Convertible Senior Notes due 2024, pursuant and/or traceable to the registered public offering conducted on or about May 8, 2014 (collectively, the "Offerings").

Cobalt is an oil exploration and production company headquartered in Houston, Texas, with operations in the Gulf of Mexico and offshore West Africa. The complaint alleges that throughout the Class Period, Cobalt and certain senior executives made false and misleading statements related to its operations in the Republic of Angola. Specifically, the complaint alleges defendants failed to disclose that Cobalt obtained access to its Angolan wells by indirectly partnering with shell companies in Angola that were partially-owned by government officials. This practice violated the Foreign Corrupt Practices Act and as a result the Company's financial statements were materially false and misleading during the Class Period.

Investors began to learn the truth about Cobalt's practices when the company disclosed in an August 5, 2014 Form 8-K filing that it had received a notice from the SEC that the agency will bring an enforcement action against the Company over its Angolan operations. On this news, Cobalt shares fell $1.75 per share, or 10.96%, to close at $14.22 on August 5, 2014.



If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

Cobalt International Energy, Inc. CIE Securities Fraud Legal Help

If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible Cobalt International Energy, Inc. securities class action lawsuit. Please click the link below to submit your complaint for a free evaluation.

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