Kosmos Energy, Ltd, KOS Securities Stock Fraud

Company:	Kosmos Energy, Ltd,
Ticker Symbol:	KOS
Class Period:	May-16-11 to Nov-10-11
Date Filed:	Jan-10-12
Lead Plaintiff Deadline:	Mar-10-12
Court:	Texas state
Allegations:

Houston, TX: A securities class action lawsuit has been filed against Kosmos Energy, Ltd. ("Kosmos Energy") and certain of its officers and directors for allegedly violating Federal securities laws by issuing false and misleading information concerning the Company' overall operational and financial condition and well-being resulting from significant problems in the Company' oil wells in its Jubilee oil field project in Ghana. Shareholders allege that Kosmos Energy concealed that its Jubilee oil field project in Ghana was underperforming and failed to disclose certain design defects in its oil wells.

A shareholders class action lawsuit for violations of securities laws was commenced 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 has cost shareholders hundreds of millions of dollars. 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 acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

Kosmos Energy, Ltd, KOS Securities Fraud Legal Help

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Published on Feb-1-12