|[November 27, 2012]
Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Hi-Crush Partners LP
WAYNE, Pa. --(Business Wire)--
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 email@example.com
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 negliently
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 (News - Alert) 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
or contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218, or
by e-mail at firstname.lastname@example.org.
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
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