Investors Get Class Cert. In Angola Oil Bribe Suit

By Bonnie Eslinger (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, first filed in November 2014, alleges that Cobalt obtained access to its Angolan wells by...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!