SAN DIEGO, Dec. 17, 2012 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of investors who purchased Hi-Crush Partners LP (HCLP) stock in or after the Company's August 2012 initial public offering (the "IPO").
The plaintiff alleges that the defendants violated Federal Securities Laws in connection with its initial public offering.
If you purchased a significant amount of common stock of Hi-Crush Partners LP (HCLP) in and/or following the Company's IPO completed on or about August 16, 2012, you have certain options and you should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The plaintiff alleges that the Registration Statement issued in connection with Hi-Crush Partners' IPO was allegedly negligently prepared and, as a result, contained allegedly untrue statements of material facts, omitted to state other facts necessary to make the statements made not misleading and was not prepared in accordance with the rules and regulations governing its preparation.
More specifically, the plaintiff claims that Hi-Crush Partners LP failed to disclose in connection with the IPO that prior to the IPO, Baker Hughes Oilfield Operations, one of Hi-Crush Partners' largest customers, had sought to change the terms of, or cancel, its supply contract with Hi-Crush Partners LP.
Then on November 13, 2012, Hi-Crush Partners LP reported its third quarter 2012 results. Among other things, Hi-Crush Partners LP disclosed that on September 19, 2012 Baker Hughes Oilfield Operations provided notice that it was terminating a supply agreement with the Company.
HCLP stock declined from as high as $20.79 on Nov. 9, 2012 to as low as $15.00 per share on November 13, 2012.
Those who purchased shares of Hi-Crush Partners LP have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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