15:77 Securities Fraud
A Texas federal judge approved $173.8 million in settlements of investor class action claims on Wednesday stemming from bribery allegations against now-bankrupt Cobalt International Energy Inc., plus $43.45 million in fees for co-class leads Bernstein Litowitz Berger & Grossmann, Entwistle & Cappucci and others.
Attorneys asked a Texas federal court on Wednesday to award them $43.45 million in fees for securing $173.8 million total for investors who brought allegations involving a potential foreign bribery scheme by now-bankrupt Cobalt International Energy Inc.
A Texas federal judge granted preliminary approval on Thursday for a nearly $23 million settlement with Morgan Stanley, Credit Suisse and a host of other investment banks that served as underwriters for the now-bankrupt Cobalt International Energy Inc.
A Texas federal judge on Friday granted investors preliminary approval of their $146.9 million settlement in a securities suit claiming the now-bankrupt Cobalt International Energy Inc. bribed Angolan officials and made misrepresentations that cost the investors billions.
A class of Cobalt International Energy investors urged a Texas federal judge Friday to approve a $146.9 million settlement in a securities suit claiming the now-bankrupt company bribed Angolan officials and made misrepresentations that cost the investors billions.
Mired in $2.8 billion of funded debt and reeling from depressed oil and gas prices and ongoing shareholder litigation, exploration and production company Cobalt International Energy Inc. filed for Chapter 11 bankruptcy in Texas on Thursday with the expressed hope of driving a value-maximizing sale of its assets.
A federal judge in Texas on Wednesday denied Cobalt International Energy Inc.'s request to reconsider class certification in an investors' suit stemming from the company's alleged bribery of Angolan officials, writing that Cobalt's reliance on a recent U.S. Supreme Court decision to support its argument is “misplaced.”
Investors suing Cobalt International Energy Inc. in connection with investor losses stemming from Cobalt’s alleged bribery of Angola officials asked a Texas federal judge on Thursday to deny the company’s request to reconsider class certification, arguing the precedent cited by the company doesn’t actually support its argument.
Cobalt International Energy Inc. asked a Texas federal judge on Thursday to rethink an order that granted class certification to hundreds of investors suing the company for allegedly bribing Angolan officials and making misrepresentations that cost the investors billions, arguing a recent U.S. Supreme Court decision changed the case's calculus.
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.