SAN DIEGO, Dec. 8, 2014 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in Cobalt International Energy, Inc. (CIE) over alleged Federal Securities Laws Violations by Cobalt International Energy.
If you purchased shares of Cobalt International Energy, Inc. (NYSE:CIE) , and/or Cobalt International Energy's common stock pursuant, and/or traceable to registered public stock offerings conducted on or about February 23, 2012, January 16, 2013 and May 8, 2013 and/or Cobalt International Energy's 2.65% Convertible Senior Notes due 2019, and/or Cobalt International Energy Convertible Senior Notes due 2024, you have certain options and for certain investors are short and strict deadlines running. Deadline: February 2, 2014. NYSE CIE investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The plaintiff claims that Cobalt International Energy and certain of its senior executives violated provisions of the Exchange Act. More specifically, the plaintiff claims that Cobalt International Energy has portrayed itself as a company with "world class," "large" and "oil-focused" wells in the Republic of Angola and claimed that the Company gained access to those wells in compliance with the U.S. law outlawing the bribery of foreign officials, while in reality, Cobalt International Energy allegedly obtained access to its Angolan wells from the Republic of Angola by partnering with shell companies in Angola that were partially owned by high-level Angolan officials, putting Cobalt International Energy at serious risk of enforcement action by the U.S. Securities and Exchange Commission ("SEC") and U.S. Department of Justice.
On August 4, 2014, Cobalt International Energy, Inc received a "Wells Notice" from the Staff of the SEC stating that the Staff has made a preliminary determination to recommend that the SEC institute an enforcement action against Cobalt International Energy alleging violations of certain federal securities laws.
On November 4, 2014, Cobalt International Energy, Inc. announced its third quarter 2014 results and provided an operational update. Cobalt International Energy, Inc said that its net loss for the third quarter of 2014 included $55 million of impairment charges associated primarily with the Loengo well drilled offshore Angola and wells previously announced in the Gulf of Mexico.
Those who purchased shares of Cobalt International Energy have certain options and should contact the Shareholders Foundation, Inc. by e-mail at firstname.lastname@example.org or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT: Shareholders Foundation, Inc. Michael Daniels +1 (858) 779-1554 email@example.com 3111 Camino Del Rio North Suite 423 San Diego, CA 92108
Source:Shareholders Foundation, Inc.