Investors In Angola Oil Bribe Case Set Sights On Class Cert.

Law360, New York (November 3, 2016, 1:34 PM EDT) -- Investors suing Cobalt International Energy Inc. for allegedly pumping up its stocks and bonds by hiding the fact that it bribed Angolan government officials to get oil-drilling permits for wells that did not actually yield much oil asked a Texas federal court Wednesday to grant them class status.

Having mostly fended off efforts by the company, private equity firms that controlled it, and banks that underwrote its stock offerings to get the case thrown out earlier this year, the proposed class of pension funds and other investors are pressing the court to recognize that they experienced similar harms and that the...

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