Lieff Cabraser Reminds Hi-Crush Partners LP Investors of Upcoming Deadline
in Class Action Lawsuits
SAN FRANCISCO -- January 9, 2013
Lieff Cabraser Heimann & Bernstein, LLP reminds investors of the January 22,
2013 deadline to move for appointment as lead plaintiff in the securities
class litigation brought on behalf of purchasers of the common units of
Hi-Crush Partners LP (“Hi-Crush” or the “Company”) (NYSE: HCLP) pursuant
and/or traceable to the Company’s Registration Statement and Prospectus issued
in connection with its initial public offering on or about August 16, 2012
If you purchased or otherwise acquired Hi-Crush common units pursuant and or
traceable to the Registration Statement and Prospectus, you may move the Court
for appointment as lead plaintiff by no later than January 22, 2013. A lead
plaintiff is a representative party who acts on behalf of other class members
in directing the litigation. Your share of any recovery in the action will not
be affected by your decision of whether to seek appointment as lead plaintiff.
You may retain Lieff Cabraser, or other attorneys, as your counsel in the
Hi-Crush investors who wish to learn more about the action and how to seek
appointment as lead plaintiff should click here or contact Sharon Lee of Lieff
Cabraser toll-free at 1 (800) 541-7358.
The actions allege that the Registration Statement issued in connection with
Hi-Crush’s IPO was materially false and misleading. The Registration Statement
and Prospectus touted certain lucrative long-term contracts with large
customers, including Baker Hughes Incorporated (“Baker Hughes”).
On November 13, 2012, the Company issued a press release announcing that Baker
Hughes had unilaterally repudiated the supply contract with Hi-Crush on
September 19, 2012 and claimed that Hi-Crush had breached the contract.
Following this disclosure, the price of Hi-Crush common units fell $5.35 per
unit to close at $15.00, significantly below the IPO price of $17 per common
The actions allege that the Registration Statement and Prospectus failed to
disclose the following material adverse facts: (a) in February 2012, after
executing the original supply contract with Hi-Crush, Baker Hughes began
expressing an unwillingness to comply with that contract; (b) six months prior
to the IPO, Baker Hughes had 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 of
its financial obligations under the supply contract, materially decreasing
Hi-Crush’s revenues and profits.
About Lieff Cabraser
Lieff Cabraser is a nationally recognized law firm committed to advancing the
rights of investors and promoting corporate responsibility.
Since 2003, theNational Law Journalhas selected Lieff Cabraser as one of the
top plaintiffs’ law firms in the nation. Lieff Cabraser is one of only two
plaintiffs’ law firms in the United States to receive this honor for the last
ten consecutive years.
For more information about Lieff Cabraser and the firm’s representation of
investors, please visithttp://www.lieffcabraser.com.
for Media Inquiries Only:
Lieff Cabraser Heimann & Bernstein, LLP
Sharon M. Lee, 800-541-7358
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