Investors Get Class Cert. In Angola Oil Bribe Suit

Law360, Los Angeles (June 15, 2017, 6:48 PM EDT) -- A Texas federal judge granted class certification Thursday to hundreds of investors suing Cobalt International Energy Inc. for allegedly bribing government officials in Angola to get oil-drilling permits and then making misrepresentations to stock and bond investors that led to billions in losses.

In approving the investor's motion for class certification, U.S. District Judge Nancy F. Atlas noted that the “defendants admit that there are common issues of law and fact, such as whether the defendants made misrepresentations [and] whether those misrepresentations were material.”

The complaint,...
To view the full article, register now.