NEW YORK, April 17, 2012 /PRNewswire/ -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Cobalt International Energy Inc. ("Cobalt International" or the "Company") (NYSE: CIE -News), concerning whether the company and certain of its officers and directors have violated federal securities laws.
On Monday April 16, 2012 Share of Cobalt International fell 7% or $2.03 and closed at $26.35 after a Sunday Financial Times article shed more light on allegations of a relationship between Angolan officials and Nazaki Oil and Gazthe; its local partner. The alleged officials' shareholdings in Cobalt's local partner could raise questions about the company's compliance with the Foreign Corrupt Practices Act. This forbids American corporations from paying or offering anything of value to foreign government officials to win or retain business. While no charge has been made against the Company, the Securities and Exchange Commission and the Department of Justice are investigating its Angolan operations. Cobalt International began an investigation into its Angolan business relationships in 2007.
If you are aware of any facts relating to this investigation, or purchased shares of Cobalt International, you can assist this investigation by contacting either Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman, 212-697-6484
SOURCE Bronstein, Gewirtz & Grossman, LLC