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NEW YORK, Aug. 13, 2019 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of ProPetro Holding Corporation (“ProPetro” or the “Company”) (NYSE: PUMP). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether ProPetro and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On August 8, 2019, after the market closed, ProPetro issued a press release disclosing that it delayed its second quarter earnings conference call in order to allow additional time to complete its Quarterly Report on Form 10-Q for the three months ended June 30, 2019. The Company cited “an ongoing review by the audit committee of the Company’s board of directors which initially focused on the disclosure of agreements previously entered into by the Company with AFGlobal for the purchase of DuraStim® hydraulic fracturing fleets and effective communications related thereto,” as the reason for its delayed filing.
On this news, ProPetro’s share price fell $4.59 per share, or over 25%, to close at $12.75 on August 9, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby