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Securities Class Action Lawsuit Filed Against Hi-Crush Partners LP; Shareholders With Large Losses Encouraged to Contact Holzer Holzer & Fistel, LLC Regarding January 21, 2013 Lead Plaintiff Deadline
By: Marketwired .
Nov. 26, 2012 12:50 PM
ATLANTA, GA -- (Marketwire) -- 11/26/12 -- A class action lawsuit has been filed on behalf of investors who purchased common stock of Hi-Crush Partners LP ("Hi-Crush" or the "Company") (NASDAQ: HCLP) following the Company's August 16, 2012 initial public offering ("IPO"). The lawsuit, which was filed in the United States District Court for the Southern District of New York, alleges Hi-Crush violated the federal securities laws by negligently preparing its registration statement issued as part of the IPO. According to the complaint, Hi-Crush's registration statement misrepresented the nature of its contractual relationship with one of its largest customers, Baker Hughes Incorporated. On November 13, 2012, Hi-Crush disclosed to investors that Baker Hughes had unilaterally repudiated a supply contract due to an alleged breach by the Company. Hi-Crush's stock price fell significantly on the news.
If you purchased Hi-Crush common stock pursuant or traceable to the Company's August 16, 2012 IPO and suffered a net loss on those purchases you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made no later than January 21, 2013. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Investors who are interested in serving as lead plaintiff or who have questions concerning their legal rights may contact Michael I. Fistel, Jr., Esq. (email@example.com) or Marshall P. Dees, Esq. (firstname.lastname@example.org) by email or via toll-free telephone at (888) 508-6832.
Holzer Holzer & Fistel, LLC dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.
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