A lawsuit was filed on behalf of investors in ProPetro Holding Corp. (NYSE: PUMP) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 10/08/2019 -- An investor, who purchased shares of ProPetro Holding Corp. (NYSE: PUMP), filed a lawsuit against ProPetro Holding Corp over alleged violations of Federal Securities Laws in connection with the Company's March 2017 initial public offering.
Investors who purchased shares of ProPetro Holding Corp. (NYSE: PUMP) have certain options and for certain investors are short and strict deadlines running. Deadline: November 15, 2019. NYSE: PUMP investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
Midland, TX based ProPetro Holding Corp., an oilfield services company, provides pressure pumping and other related services. On August 8, 2019, ProPetro Holding Corp announced that it is delaying its second quarter earnings conference call and quarterly report, citing an ongoing review by its audit committee. Among other things, the review concerned related party transactions, potential conflicts of interest, and expense reimbursements. Shares of ProPetro Holding Corp. (NYSE: PUMP) declined from $21.83 per share in early July 2019 to as low as $10.19 per share on August 23, 2019.
The plaintiff claims that between March 17, 2017 and August 8, 2019, the Defendants failed to disclose to investors, that the Company's executive officers were improperly reimbursed for certain expenses, that the Company had engaged in certain undisclosed transactions with related parties, that the Company lacked adequate disclosure controls and procedures, that the Company lacked effective internal control over financial reporting, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Those who purchased shares of ProPetro Holding Corp. (NYSE: PUMP) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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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.
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