-
You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of April 4, 2019 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.
-
To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
Settlement Overview
You must register to view and download the Settlement Notice and Settlement Proof.
November 2, 2018 - The court preliminarily approved the settlement.
October 12, 2018 - A stipulation of settlement was filed by the parties.
April 14, 2017 - A motion to dismiss the second amended consolidated complaint was filed.
March 15, 2017 - A second amended consolidated complaint was filed.
January 19, 2016 - The court granted in part and denied in part defendants' motions to dismiss.
June 30, 2015 - A motion to dismiss the amended consolidated complaint was filed.
May 1, 2015 - An amended consolidated complaint was filed.
November 30, 2014 - An investor in shares of Cobalt International Energy Inc (NYSE: CIE), filed a lawsuit against Cobalt International Energy Inc, certain of its senior executives and directors, the underwriters of its securities offerings and certain investment firms that controlled the Company in the U.S. District Court for the Southern District of Texas over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between February 21, 2012 and November 4, 2014.
According to the complaint the plaintiff alleges on behalf of purchasers of Cobalt International Energy, Inc. (NYSE: CIE) common shares between February 21, 2012 and November 4, 2014, Cobalt International Energy and certain of its senior executives violated provisions of the Exchange Act by issuing materially false and misleading press releases, filings with the Securities and Exchange Commission ( SEC ), and statements during investor conference calls. The Complaint also alleges that in connection with above stated Offerings, Cobalt International Energy issued securities pursuant to materially misstated filings with the SEC. Cobalt International Energy, Inc. reported that its Net Loss increased from $71.60 million in 2008 to $589.02 million in 2013. Shares of Cobalt International Energy, Inc. (NYSE: CIE) traded in 2012 as high as $34.03 per share and as high as $30.20 per share in August 2013.
On August 4, 2014, Cobalt International Energy, Inc received a “Wells Notice” from the Staff of the U.S. Securities and Exchange Commission (the “SEC”) stating that the Staff has made a preliminary determination to recommend that the SEC institute an enforcement action against Cobalt International Energy, Inc, alleging violations of certain federal securities laws. Cobalt International Energy, Inc said it intends to respond to the Wells Notice in the form of a “Wells Submission” in due course. Cobalt International Energy, Inc stated it is currently subject to a formal order of investigation issued in 2011 by the U.S. Securities and Exchange Commission (the “SEC”) related to its operations in Angola and that it may be exposed to liabilities under the U.S. Foreign Corrupt Practices Act.
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. Shares of Cobalt International Energy, Inc. (NYSE: CIE) declined from over $30 per share in August 2013 to as low as $8.32 per share on December 1, 2014.
On December 2, 2014, Cobalt International Energy (NYSE: CIE) shares closed at $8.94 per share.