DENVER, Sept. 10, 2008 (GLOBE NEWSWIRE) -- Dyer & Berens LLP today announced that a class action lawsuit has been filed in the United States District Court for the Western District of Oklahoma, on behalf of purchasers of Quest Energy Partners, L.P. ("Quest Energy" or the "Company") (Nasdaq:QELP) common units from the date of the Company's initial public offering on or about November 7, 2007 (the "IPO") through August 25, 2008 (the "Class Period").
If you purchased Quest Energy common units during the Class Period, you may, no later than November 4, 2008, request that the Court appoint you as a lead plaintiff for the Class. A lead plaintiff is a class member that acts on behalf of other investors in directing the litigation. Although your ability to share in any recovery is not affected by your decision to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.
For a free consultation regarding your rights and interests with respect to the pending lawsuit, you may contact Jeffrey A. Berens, Esq. at (888) 300-3362, (303) 861-1764 or via email at jeff@dyerberens.com.
The complaint charges Quest Energy and others, including Quest Resource Corporation ("Quest Resource") (Nasdaq:QRCP), with violations of the Securities Act of 1933 by virtue of Quest Energy's issuance of an allegedly materially inaccurate Registration Statement and Prospectus (the "Registration Statement") in connection with Quest Energy's IPO. According to the complaint, in November 2007, Quest Energy raised over $151 million from investors in its IPO. Quest Energy's Registration Statement was allegedly inaccurate because Quest Energy failed to properly disclose related party transactions between its CEO Jerry Cash and an entity he controlled. On August 25, 2008 Quest Energy announced that its CEO had resigned following an inquiry by the Oklahoma Department of Securities in connection with questionable transfers of, among other things, Quest Energy funds to Rockport Energy, a Texas limited liability corporation controlled by Mr. Cash. In response to these announcements, the price of Quest Energy shares has fallen dramatically.
Although at this time, Dyer & Berens LLP has not filed a complaint in this matter, it specializes in complex class action litigation on behalf of injured investors throughout the nation. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors. For more information about the firm, please go to www.DyerBerens.com.