|By Marketwire .||
|September 7, 2012 04:04 PM EDT||
BOSTON, MA -- (Marketwire) -- 09/07/12 -- Gilman Law LLP announces that a class action lawsuit has been commenced against Kosmos Energy, Ltd. ("Kosmos Energy") (NYSE: KOS) Investors who purchased or otherwise acquired shares in Kosmos Energy pursuant or traceable to the May 16, 2011 initial public offering ("IPO") may have a claim to recover their losses.
Gilman Law LLP filed a shareholders class action lawsuit for violations of securities laws in the Texas state court on January 10, 2012. The complaint alleges that Kosmos Energy failed to disclose the design defects in the oil wells, even though Kosmos Energy was aware of this prior to the IPO. The complaint further alleges that Kosmos Energy failed to disclose that its oil field was underperforming at or around 80,000 barrels of oil per day instead of the expected 120,000 barrels of oil per day, up to and during the IPO.
The design defects in the oil wells and the underperforming oil field have cost shareholders hundreds of millions of dollars. According to the complaint, in November, Kosmos told investors in a conference call that it would cost a considerable amount in 2012 to fix the defects in the oil wells, and would delay the expected production levels by years.
If you suffered a loss of $50,000 or more in Kosmos Energy, you have until September 10, 2012 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 Gilman Law LLP today:
- Contact: Kenneth G. Gilman, Esq.
- Toll Free: (888) 252-0048
- Facsimile: (239) 676-8224
- Online: Kosmos Energy Securities Fraud Website
The Securities Fraud Attorneys at Gilman Law LLP have over 33 years of experience in securities litigation. Our Investment Fraud Attorneys focus on cases involving securities litigation, securities fraud, mergers and acquisitions, breaches of fiduciary duty, and other shareholder disputes.
Kenneth G. Gilman, Esq.
Toll Free: (888) 252-0048
Facsimile: (239) 676-8224