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NEW YORK, June 25, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Mammoth Energy Services, Inc. (NASDAQ: TUSK) from October 19, 2017 through June 5, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Mammoth investors under the federal securities laws.
If you wish to serve as lead plaintiff, you must move the Court no later than August 6, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation http://zhanginvestorlaw.com/join-action-form/?slug=mammoth-energy-services-inc&id=1902 or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756 or email firstname.lastname@example.org, email@example.com for information on the class action.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Mammoth’s subsidiary, Cobra, improperly obtained two infrastructure contracts with PREPA that totaled over $1.8 billion; (2) specifically, the contracts were awarded as the result of improper steering and not a competitive RFP process; and (3) as a result, Defendants’ statements about Mammoth’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
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