The Law Offices of Todd M. Garber announces that shareholders of Hi-Crush Partners LP (“Hi-Crush” or the “Company”) (NYSE:HCLP) have until January 22, 2013 to move for lead plaintiff status in the shareholder lawsuit filed in the United States District Court for the Southern District of New York. The lawsuit was filed on behalf of a class (the “Class”) comprising all persons or entities who purchased Hi-Crush shares pursuant or traceable to the Company’s August 16, 2012 initial public offering (the “IPO”).
Hi-Crush engages in the mining and processing of “frac sand” for use in hydraulic fracturing operations in oil and gas wells. The Complaint alleges that the Prospectus and Registration Statement filed in connection with the IPO contained materially false and misleading statements and omitted material information concerning one of the Company’s largest customers -- Baker Hughes Oilfield Operations, Inc. (“Baker Hughes”) -- including that: (i) as early as February 2012 Baker Hughes sought to change material terms of its contract with Hi-Crush and had expressed an unwillingness to comply with the current contract; and (ii) prior to the IPO, Baker Hughes began refusing to take or pay for Hi-Crush’s frac sand.
If you are a member of the above-described Class, you may move the Court no later than January 22, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time. You may retain counsel of your choice or take no action and remain an absent Class member. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to firstname.lastname@example.org.
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