Glancy Binkow & Goldberg announces that all purchasers of the common
stock of Kosmos Energy Ltd. (“Kosmos” or the “Company”) (NYSE:KOS)
pursuant and/or traceable to the Company’s Initial Public Offering
commencing on or about May 12, 2011 (the “IPO”) have until August 24,
2012 to file a motion with the Court to be appointed as Lead Plaintiff.
The securities fraud class action lawsuit was filed in the United States
District Court for the Northern District of Texas.
The Complaint alleges violations of federal securities laws against
Kosmos, certain of the Company’s officers and directors, and the
underwriters of 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 purchased Kosmos common stock pursuant and/or traceable to the
Company’s May 12, 2011 IPO, you may move the Court no later than August
24, 2012 to serve as Lead Plaintiff; however, you must meet certain
legal requirements. To be a member of the class you need not take action
at this time; you may retain counsel of your choice or take no 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 Michael Goldberg, Esquire,
of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los
Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at
(888) 773-9224, by e-mail to firstname.lastname@example.org,
or visit our website at http://www.glancylaw.com.
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