Suit Alleges Kosmos Energy Misled Investors Ahead Of IPO

Law360, New York (July 17, 2012, 9:31 PM EDT) -- A shareholder on Monday hit Kosmos Energy Ltd. in Texas federal court with a proposed class action, alleging that the company’s stock price plummeted upon revelation that the oil and gas giant hid problems at several offshore wells from investors.

Lead plaintiff George M. Mounger claims that Kosmos and several of its executives and directors misled investors about the viability of wells within the Jubilee oil field off the coast of the Republic of Ghana, artificially inflating the company’s stock price, which crashed when the truth...
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