SAN DIEGO, March 12, 2019 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in NYSE: FTSI shares.
Investors, who purchased shares of FTS International, Inc. (NYSE: FTSI), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the Registration Statement that was filed in connection with the Company’s Initial Public Offering (“IPO”) was negligently prepared and, as a result, contained untrue statements of material fact, omitted material facts necessary to make the statements contained therein not misleading, and failed to make adequate disclosures required under the rules and regulations governing the preparation of such documents.
More specifically, the plaintiff claims, among other allegations, that the Registration Statement failed to disclose that the hydraulic fracturing market was experiencing intense and increasing competition and a glut of increased supply as companies re-entered the market and increased output due to a rise in the price of commodities, that FTS International, Inc. was not positioned to capitalize on increased demand for hydraulic fracturing services in the industry overall, but rather was positioned to lose market share and suffer decelerating revenue growth and, ultimately, decreased revenues as competitors flooded the market and undercut the Company’s prices for its services, even as commodity prices increased, and that as FTS International, Inc. suffered decreased demand for its services and intense price competition, it was not positioned to increase its fleet size by 19% in the nine months following the IPO, but rather needed to materially reduce its fleet size.
Those who purchased NYSE: FTSI shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a 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. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.