Bleichmar Fonti & Auld LLP files lawsuit against Civitas Resources for securities fraud.

Bleichmar Fonti & Auld LLP has filed a lawsuit against Civitas Resources and its senior executives for potential federal securities law violations. The lawsuit asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors who purchased Civitas securities. Investors have until July 1, 2025, to ask the Court to be appointed to lead the case. The case is pending in the U.S. District Court for the District of New Jersey.

NEW YORK, June 6, 2025 — Bleichmar Fonti & Auld LLP has filed a lawsuit against Civitas Resources, Inc. (NYSE: CIVI) and certain of the Company’s senior executives for potential violations of the federal securities laws. The lawsuit asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors who purchased Civitas securities. Investors have until July 1, 2025, to ask the Court to be appointed to lead the case. The case is pending in the U.S. District Court for the District of New Jersey and is captioned Lin v. Civitas Resources, et al., No. 25-cv-03791.

Why Civitas Resources, Inc. Was Sued for Securities Fraud

Civitas Resources, Inc. is an oil and gas exploration and production company with key assets located in the Denver-Julesburg Basin in Colorado and the Permian Basin in Texas and New Mexico. The lawsuit alleges that Civitas made false and misleading statements about the basins' "enhanced recovery potential" and claimed that it had "driven production ahead of plans," touting "enhanced margins through reduced operating costs" and insisting that "costs are below expectations."

However, the complaint alleges that in truth, the Company's oil production peaked in 2024, and increasing production would require Civitas to spend significant capital to acquire additional land, driving up costs.

Stock Declines as Truth is Revealed

On February 24, 2025, Civitas announced disappointing Q4 and full year 2024 results, reducing its oil production guidance. The Company explained that oil production had peaked and it would need to spend hundreds of millions of dollars to acquire thousands of acres of new land to produce more oil. Civitas also announced a 10% reduction in its workforce to "solidify the Company’s low-cost structure" and the immediate firings of its Chief Operating Officer and Chief Transformation Officer. On this news, the price of Civitas stock declined more than 18%, from a closing price of $49.30 per share on February 24, 2025, to $40.35 per share on February 25, 2025 [1].

What Can Investors Do?

Investors who purchased Civitas securities may have legal options. Bleichmar Fonti & Auld LLP encourages investors to submit their information by visiting [https://www.bfalaw.com/cases-investigations/civitas-resources-inc](https://www.bfalaw.com/cases-investigations/civitas-resources-inc) or by contacting Ross Shikowitz at ross@bfalaw.com or 212-789-3619. All representation is on a contingency fee basis, with no cost to investors. Shareholders are not responsible for any court costs or expenses of litigation [1, 2, 3].

About Bleichmar Fonti & Auld LLP

Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd. [1, 2, 3].

References

[1] https://www.tradingview.com/news/reuters.com,2025-06-04:newsml_GNX2pp0rX:0-civi-lawsuit-notice-lose-money-on-civitas-resources-inc-bfa-law-alerts-investors-that-the-class-action-could-allow-investors-to-recover-losses-nyse-civi/
[2] https://www.morningstar.com/news/globe-newswire/9460822/civi-stock-suffer-losses-on-civitas-resources-inc-bfa-law-notifies-investors-of-imminent-july-8-securities-class-action-deadline-nysecivi
[3] https://www.tradingview.com/news/reuters.com,2025-05-31:newsml_GNX2Fnvsb:0-civi-class-notice-civitas-resources-inc-investors-may-have-been-affected-by-fraud-contact-bfa-law-before-july-1-court-deadline-nyse-civi/