NEW YORK, Feb. 26, 2025 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Civitas Resources, Inc (“Civitas” or the “Company”) (NYSE: CIVI). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Civitas and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On February 24, 2025, Civitas announced its financial results for the fourth quarter and full year 2024, including both revenue and non-GAAP EPS that missed consensus estimates. Civitas also announced a 10% reduction in its workforce across all levels, as well as the termination of its Chief Operating Officer Hodge Walker and Chief Transformation Officer Jerome Kelly, effective immediately.
On this news, Civitas’s stock price fell $8.95 per share, or 18.15%, to close at $40.35 per share on February 25, 2025.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
SOURCE Pomerantz LLP