Levi & Korsinsky Notifies Investors With Losses on Their Investment in
Hi-Crush Partners LP of Class Action Lawsuit and the Deadline of January 21,
2013 to Seek a Lead Plaintiff Position -- HCLP
NEW YORK, Nov. 26, 2012 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a
class action lawsuit has been commenced in the United States District Court
for the Southern District of New York on behalf of investors who acquired
Hi-Crush Partners LP ("Hi-Crush" or "the Company") (NYSE:HCLP) securities
pursuant to the Company's August 16, 2012 Initial Public Offering.
For more information, click here: http://zlk.9nl.com/hi-crush-partners-hclp/.
The complaint alleges that the Registration Statement highlighted Baker Hughes
Incorporated as one of Hi-Crush's largest customers and emphasized that it was
obligated to purchase sand from Hi-Crush pursuant to a May 2012 contract.On
November 13, 2012, however, Hi-Crush disclosed that Baker Hughes had
repudiated that supply contract, stating Hi-Crush was in breach.
According to the complaint, the Registration Statement was false and
misleading and/or failed to disclose the following: that (a) after executing
the original supply contract with Hi-Crush in October 2011, beginning in
February 2012, Baker Hughes began expressing an unwillingness to comply with
that contract; (b) six months prior to the IPO, Baker Hughes demanded
significant volume and other concessions resulting in the execution of an
amended supply contract; (c) according to Baker Hughes, Hi-Crush had, or was,
violating confidentiality provisions in the supply contract; and (d) as a
result, Baker Hughes would repudiate all its financial obligations under the
supply contract, materially decreasing Hi-Crush's revenues and profits under
the supply contract.
If you suffered a loss in Hi-Crush you have until January 21, 2013 to request
that the Court appoint you as lead plaintiff.Your ability to share in any
recovery doesn't require that you serve as a lead plaintiff. To obtain
additional information, contact Joseph E. Levi, Esq. either via email at
firstname.lastname@example.org or by telephone at (877) 363-5972, or visit
Levi & Korsinsky is a national firm with offices in New York and Washington
D.C. The firm has extensive expertise in prosecuting securities litigation
involving financial fraud, representing investors throughout the nation in
securities and shareholder lawsuits. Attorney advertising. Prior results do
not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP
Joseph Levi, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
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