Case Page

 

Case Status:    ONGOING    
On or around 10/07/2016 (Ongoing date of last review)

Filing Date: October 06, 2016

According to the law firm press release, the complaint filed in this action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company’s propane sales were declining; (2) that the Company’s midstream logistics business was being negatively impacted by low crude oil prices; (3) that, as such, the Company’s Adjusted EBITDA would fall below the Company’s projections; (4) that the Company was becoming more and more leveraged; (5) that, in response, the Company would need to obtain an amendment under the secured credit facility and accounts receivable securitization facility to increase the maximum leverage ratio to a range of 5.95x to 6.05x; (6) that, as a result of the foregoing, the Company would likely need to reduce its dividend; and (7) that, as a result of the foregoing, Defendants’ statements about Ferrellgas’ business, operations, and prospects were false and misleading and/or lacked a reasonable basis.

COMPANY INFORMATION:

Sector: Energy
Industry: Oil & Gas Operations
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: FGP
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 16-CV-07840
JUDGE: Hon. Richard J. Sullivan
DATE FILED: 10/06/2016
CLASS PERIOD START: 06/01/2015
CLASS PERIOD END: 09/28/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Prongay & Murray LLP
    1925 Century Park East, Suite 2100 , Glancy Prongay & Murray LLP, CA 90067
    (310) 201-9150 (310) 432-1495 ·
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