The Law Offices of Todd M. Garber announces that a class action lawsuit
has been filed in the United States District Court for the Northern
District of Texas on behalf of a class (the “Class”) comprising 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”).
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 are a member of the above-described Class, 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 any action at this time, or you may retain counsel of your
choice. 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
Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by
telephone at 213-700-7262 or by email to info@toddgarberlaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
