The Law Offices of Todd M. Garber announces that shareholders of Kosmos Energy Ltd. (“Kosmos” or the “Company”) (NYSE:KOS) have until September 10, 2012 to move for lead plaintiff status in the shareholder lawsuit filed in the United States District Court for the Northern District of Texas. The lawsuit was filed on behalf of a class (the “Class”) comprising all purchasers of Kosmos common stock pursuant and/or traceable to the Company’s Initial Public Offering commencing on or about May 12, 2011 (the “IPO”).
Kosmos engages in the exploration and production of oil and gas in South America and Africa, primarily in the deep-water Jubilee oil field situated off the coast of the Republic of Ghana. The Complaint alleges that the Registration Statement and Prospectus issued in connection with the Company’s IPO were materially false and misleading and misrepresented or failed to disclose that: (1) at the time of the IPO, gross oil production from the Jubilee field was not on track to reach its design capacity by the third quarter 2011; (2) several Jubilee oil wells were not producing as expected due to design defects which existed at the time of completion and pre-dated the IPO; and (3) these design defects would cost the Company hundreds of millions of dollars to remediate, and prevent the Jubilee wells from meeting production expectations for several years.
If you are a member of the above-described Class, you may move the Court no later than September 10, 2012 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time. You may retain counsel of your choice or take not action and remain an absent Class member. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to firstname.lastname@example.org.
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