Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Hi-Crush
WAYNE, Pa. -- November 27, 2012
Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/hclp) announces that a class
action lawsuit has been filed in the United States District Court for the
Southern District of New York on behalf of all persons or entities who
purchased the common stock of Hi-Crush Partners LP (“Hi-Crush” or the
“Company”) (NYSE: HCLP) in and/or following the Company’s initial public
offering completed on or about August 16, 2012 (the “IPO”).
For more information regarding this class action suit, please contact Ryan &
Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by
email at firstname.lastname@example.org or visit: www.rmclasslaw.com/cases/hclp.
The complaint charges Hi-Crush, certain of its officers and directors and the
underwriters of its IPO with violations of the Securities Act of 1933. The
complaint alleges that the Registration Statement issued in connection with
the Company’s August 16, 2012 IPO was negligently prepared and, as a result,
contained untrue statements of material facts, omitted to state other facts
necessary to make the statements made not misleading and was not prepared in
accordance with the rules and regulations governing its preparation.
Specifically, the complaint alleges that the Registration Statement
highlighted Baker Hughes Incorporated (“Baker Hughes”) as one of Hi-Crush’s
two largest customers and emphasized that it was obligated to purchase sand
from Hi-Crush pursuant to a May 2012 “take-or-pay contract” that “require[d]”
Baker Hughes “to pay a specified price for a specified volume of frac sand
each month.” According to the complaint though, on November 13, 2012, Hi-Crush
was forced to disclose that Baker Hughes had unilaterally repudiated that
supply contract, stating Hi-Crush was in breach. On this disclosure,
Hi-Crush’s stock price fell $5 per share, or 25%, on extremely high trading
volume of more than 3.3 million shares trading.
If you are a member of the class, you may, no later than January 21, 2013,
request that the Court appoint you as lead plaintiff of the class. A lead
plaintiff is a representative party that acts on behalf of other class members
in directing the litigation. In order to be appointed lead plaintiff, the
Court must determine that the class member's claim is typical of the claims of
other class members, and that the class member will adequately represent the
class. Under certain circumstances, one or more class members may together
serve as "lead plaintiff." Your ability to share in any recovery is not,
however, affected by the decision whether or not to serve as a lead plaintiff.
You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve
as your counsel in this action.
For more information about the case or to participate online, please visit:
www.rmclasslaw.com/cases/hclp or contact Richard A. Maniskas, Esquire
toll-free at (877) 316-3218, or by e-mail at email@example.com. For
more information about class action cases in general or to learn more about
Ryan & Maniskas, LLP, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan &
Maniskas, LLP is devoted to protecting the interests of individual and
institutional investors in shareholder actions in state and federal courts
Ryan & Maniskas, LLP
Richard A. Maniskas, Esquire
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