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NEW ORLEANS, — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors with losses in excess of $100,000 that they have only 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 protected]), 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 by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by November 15, 2019.
About the Lawsuit
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 one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.