PROPETRO SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against ProPetro Holding Corp. - PUMP
Sep 19, 2019
Legal Newswire POWERED BY LAW.COM
NEW ORLEANS, -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until November 15, 2019 to file lead plaintiff applications in a securities class action lawsuit against ProPetro Holding Corp. (NYSE: PUMP), if they purchased the Company's securities issued in connection with its March 2017 initial public offering or between March 17, 2017 and August 8, 2019, inclusive (the "Class Period"). This action is pending in the United States District Court for the Western District of Texas.
What You May Do
If you purchased securities of ProPetro and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or visit https://www.ksfcounsel.com/cases/nyse-pump/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by November 15, 2019.
About the Lawsuit
ProPetro and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On August 8, 2019, post-market, the Company disclosed a delay to its Q2 report pending a review by its audit committee involving approximately $370,000 of improper reimbursements to senior management and other related-party or potentially conflicted transactions, and that it expected to report a material weakness in its internal control over disclosure.
On this news, the price of ProPetro's shares plummeted over 26%.
The case is Logan v. ProPetro Holding Corp., 7:19-cv-00217.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact Information:Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
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