Cobalt International Energy Inc.
CIE INVESTOR ALERT - Andrews & Springer LLC Is Investigating Cobalt International Energy Inc. For Possible Securities Fraud Violations
(Wilmington, DE) Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating Cobalt International Energy Inc. (“Cobalt” or the “Company”) (NYSE: CIE) for possible violations of securities laws relating to the U.S. Securities & Exchange Commission’s (“SEC”) announcement today that it plans on charging the Company with violations of securities laws.
Today, on August 5, 2014, Cobalt announced that it received a “Wells Notice” from the SEC that alleges that the Company violated securities laws. The SEC’s investigation, dating back to 2011, concerns whether the Company violated the Foreign Corrupt Practices Act in Angola, one of Cobalt’s biggest regions for investment and exploration. Cobalt has several offshore blocks in Angola, where the Company is finishing an appraisal well. Two of these blocks, the Company was assigned to partner with Angolan contractor Nazaki Oil and Gaz SA. In 2010, Cobalt became aware of allegations concerning certain senior Angolan government officials that were connected with Nazaki. In 2011, the SEC opened an investigation into these allegations. As a result of this news, Cobalt’s share price fell 10.96% today.
Given this information, Andrews & Springer LLC is preparing a class action lawsuit as a result. If you own shares of Cobalt and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/cie or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.