NEW YORK, Jan. 28, 2015 (GLOBE NEWSWIRE) -- The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Southern District of Texas on behalf of investors who purchased Cobalt International Energy, Inc. ("Cobalt" or the "Company") (NYSE:CIE) securities between February 21, 2012 and November 4, 2014.
Click here to learn about the case: http://docs.wongesq.com/CIE-Info-Request-Form-575. There is no cost or obligation to you.
The complaint alleges that Cobalt and certain of its officers violated securities laws by failing to disclose certain facts regarding the true value of its Lontra and Loengo wells in Angola and reports of questionable business practices.
On December 3, 2013, Cobalt shares dropped $4.72 to close at $17.51 per share after the Company revealed the Lontra well held large amount of gas, as opposed to previously held predictions of billions of barrels of oil. On August 5, 2014, the SEC issued the Company a Wells Notice which recommended enforcement action against Cobalt for possible violation of securities laws relating to its practice of gaining access to Angolan wells by partnering with shell companies in Angola that were partially owned by high-level Angolan officials. This news caused Cobalt stock to drop again, to close at $14.22. Finally on November 4, 2014, the Company's stock fell another $1.21 to close at $10.07 when it was revealed that the Loengo well had neither oil nor gas, despite claims that it was rich in both.
If you suffered a loss in Cobalt you have until February 2, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Vincent Wong, Esq. either via email email@example.com, by telephone at 212.425.1140, or visit http://docs.wongesq.com/CIE-Info-Request-Form-575.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Vincent Wong, Esq. 39 East Broadway Suite 304 New York, NY 10002 Tel. 212.425.1140 Fax. 866.699.3880 E-Mail: firstname.lastname@example.orgSource:The Law Offices of Vincent Wong