Plaintiffs in Securities Class Action to Request Voluntary Dismissal Without Prejudice of Claims Against Cobalt International Energy, Inc. Due to Its Bankruptcy; Litigation to Continue Against Remaining Defendants

NEW YORK--()--This Notice concerns the securities class action In re Cobalt International Energy, Inc. Securities Litigation, Case No. 4:14-cv-03428 (NFA) (the “Action”), on behalf of all persons and entities who purchased or otherwise acquired securities of Cobalt in the open market or pursuant or traceable to the offerings during the period from March 1, 2011 through November 3, 2014 (the “Class”). The offerings are as follows: (i) the registered public offerings of stock on February 23, 2012, January 16, 2013 and May 8, 2013; (ii) the registered public offering of Cobalt 2.625% Convertible Senior Notes due 2019 on December 11, 2012; and (iii) the registered public offering of Cobalt 3.125% Convertible Senior Notes due 2024 on May 8, 2014.

Plaintiffs hereby provide notice that they will request voluntary dismissal without prejudice of their claims against Defendant Cobalt International Energy, Inc. (“Cobalt”). On December 14, 2017, Defendant Cobalt filed a Chapter 11 bankruptcy petition in the United States Bankruptcy Court for the Southern District of Texas, Case No. 17-36709 (MI). Plaintiffs’ claims against Cobalt have been stayed in accordance with 11 U.S.C. § 362(a)(1) of the Bankruptcy Code. Plaintiffs’ voluntary dismissal would not dismiss any claims against any of the other Defendants in the Action.

Should any member of the Class wish to object to the dismissal of Cobalt, such objection must be mailed within 30 days after the publication of this Notice to:

The Honorable Nancy F. Atlas
United States District Court for the Southern District of Texas
Houston Division
c/o Office of the Clerk of Court
P.O. Box 61010
Houston, TX 77208

Questions about the case or this Notice should be directed to court-appointed Lead Counsel for the Class:

Andrew J. Entwistle
Entwistle & Cappucci LLP
Telephone: (212) 894-7200

David R. Stickney
Bernstein Litowitz Berger & Grossmann LLP
Telephone: (858) 793-0070

Contacts

Entwistle & Cappucci LLP
Andrew J. Entwistle, 212-894-7200
or
Bernstein Litowitz Berger & Grossmann LLP
David R. Stickney, 858-793-0070

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Release Summary

Plaintiffs in Securities Class Action to Request Voluntary Dismissal Without Prejudice of Claims Against Cobalt International Energy, Inc.

Entwistle & Cappucci LLP