Energy News / Shareholders Foundation, Inc.

NASDAQ:TUSK Investor Alert: Lawsuit Alleges Securities Laws Violations by Mammoth Energy Services, Inc.

Via: ReleaseWire

Updated 7:00 AM CDT, Wed, July 31,2019

A lawsuit was filed on behalf of investors in Mammoth Energy Services, Inc. (NASDAQ: TUSK) shares over alleged securities laws violations.

San Diego, CA -- (SBWIRE) -- 07/31/2019 -- An investor, who purchased shares of Mammoth Energy Services, Inc. (NASDAQ: TUSK), filed a lawsuit over alleged violations of Federal Securities Laws by Mammoth Energy Services, Inc.

Investors who purchased f shares of Mammoth Energy Services, Inc. (NASDAQ: TUSK) between October 19, 2017 through June 5, 2019, and / or if you purchased any NASDAQ: TUSK shares prior to October 2017 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: August 6, 2019. NASDAQ: TUSK investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On May 24, 2019, an article was published entitled "FEMA Official Probed Over Puerto Rico Power Restoration". According to the article, a high-ranking Federal Emergency Management Agency official who oversaw the reconstruction of Puerto Rico's electrical grid after Hurricane Maria is under investigation for allegedly steering work to Cobra, a Mammoth subsidiary. The subsidiary had signed separate contracts worth up to $900 million and $945 million to repair downed transmission and distribution lines in Puerto Rico.

The plaintiff claims that between October 19, 2017 through June 5, 2019, the defendants made false and/or misleading statements and/or failed to disclose that Mammoth's subsidiary, Cobra, improperly obtained two infrastructure contracts with PREPA that totaled over $1.8 billion, that specifically, the contracts were awarded as the result of improper steering and not a competitive RFP process, and that as a result, Defendants' statements about Mammoth's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of Mammoth Energy Services, Inc. (NASDAQ: TUSK) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio 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. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

For more information on this press release visit:
http://www.sbwire.com/press-releases/nasdaqtusk-investor-alert-lawsuit-alleges-securities-laws-violations-by-mammoth-energy-services-inc-1251107.htm

Media Relations Contact
Michael Daniels
1-858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com