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Baker Botts Announces Closure of SEC Investigation of Cobalt International Energy, Inc.

News Release
HOUSTON, January 30, 2018 - Baker Botts L.L.P., a leading international law firm, today announced that the staff of the United States Securities and Exchange Commission (SEC) advised Baker Botts on January 29, 2018, that it has closed its investigation into the Angolan operations of firm client, Cobalt International Energy, Inc. (Cobalt) (NYSE: CIE) without recommending any enforcement action.

“We are very pleased that the SEC has concluded its investigation and is taking no action,” said Michael Goldberg, a Partner based in Baker Botts’ Houston and New York City offices and Co-Chair of the firm’s International Dispute Resolution group. “This result is entirely consistent with the outcomes of the two prior investigations into Cobalt’s Angolan operations by the SEC and Department of Justice.”

The SEC began its current investigation into Cobalt’s Angolan operations in March 2017. The SEC and DOJ previously opened investigations in 2011 and concluded them, respectively, in 2015 and 2017. All three investigations were concluded without any enforcement action and without any settlement.

The Baker Botts team included Michael Goldberg, Partner (Houston and New York); Russell Lewis, Partner (Houston); along with associates Sarah Coble, (Houston); Laura Smith (Washington, D.C.); and Ben Gonsoulin (Houston).

 

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About Baker Botts L.L.P.
Baker Botts is an international law firm of approximately 725 lawyers practicing throughout a network of 14 offices around the globe. Based on our experience and knowledge of our clients’ industries, we are recognized as a leading firm in the energy and technology sectors. Throughout our 178-year history, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit BakerBotts.com.

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