LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP announces that it is investigating potential claims on behalf of investors of Cobalt International Energy, Inc. (“Cobalt” or the “Company”) (NYSE:CIE) concerning possible violations of federal securities laws. The investigation focuses on the Company’s business and operations.
Please contact Casey Sadler, Esquire, at 888-773-9224 or 310-201-9150, or at email@example.com to discuss this matter. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
Cobalt is engaged in the exploration and production of oil-focused and below-salt exploration prospects in the deepwater of the U.S. Gulf of Mexico. The investigation is related to a 2011 formal order of investigation issued by the U.S. Securities and Exchange Commission related to Cobalt’s operations in Angola and potential liabilities under the U.S. Foreign Corrupt Practices Act.
On August 5, 2014, Cobalt disclosed that the Company received a “Wells Notice” in connection with the SEC’s investigation, stating that the Staff of the SEC has made a preliminary determination to recommend that the SEC institute an enforcement action against the Company, alleging violations of certain federal securities laws. According to the Company, “the Staff may recommend that the SEC seek remedies that could include an injunction, a cease-and-desist order, disgorgement, pre-judgment interest and civil money penalties.” Following this news, Cobalt shares dropped approximately 11 percent, or $1.75 per share, to a closing price of $14.22 on August 5, 2014.
If you purchased Cobalt securities, if you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Casey Sadler, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by toll-free telephone at 888-773-9224 or by telephone at 310-201-9150, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
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