Kosmos Energy Agrees To Pay $10.2M To Settle IPO Suit

Law360, Houston (April 30, 2014, 6:42 PM EDT) -- Kosmos Energy Ltd. on Monday told a Texas federal court that it has agreed to pay $10.2 million to settle a proposed class action alleging the oil and gas company misrepresented its financial outlook in the run-up to its initial public offering.

The energy exploration company filed a stipulation of settlement and asked the court to sign off on the proposed deal, ending litigation over allegations that Kosmos drove up interest in its stock prior to the IPO by embellishing the expected productivity of an oil field it was planning to develop.

A representative for Kosmos did not immediately respond to...

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