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Case Status:    ONGOING    
On or around 02/13/2020 (Date of last review)

Filing Date: September 16, 2019

According to the Complaint, ProPetro is an oilfield services company that provides hydraulic fracturing and complementary services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources.

The Complaint 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, the Complaint alleges Defendants failed to disclose to investors: (1) that the Company’s executive officers were improperly reimbursed for certain expenses; (2) that the Company had engaged in certain undisclosed transactions with related parties; (3) that the Company lacked adequate disclosure controls and procedures; (4) that the Company lacked effective internal control over financial reporting; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

On December 16, 2019, the Court issued an Order appointing Lead Plaintiffs and Counsel. Lead Plaintiffs filed an amended Complaint on February 13, 2020.

COMPANY INFORMATION:

Sector: Energy
Industry: Oil Well Services & Equipment
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: PUMP
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: W.D. Texas
DOCKET #: 19-CV-00217
JUDGE: Hon. David Counts
DATE FILED: 09/16/2019
CLASS PERIOD START: 03/17/2017
CLASS PERIOD END: 08/08/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Prongay & Murray LLP
  2. Kendall Law Group, PLLC
No Document Title Filing Date
COURT: W.D. Texas
DOCKET #: 19-CV-00217
JUDGE: Hon. David Counts
DATE FILED: 02/13/2020
CLASS PERIOD START: 03/17/2017
CLASS PERIOD END: 10/31/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Litowitz Berger & Grossmann LLP (New New York)
    1251 Avenue of the Americas, Bernstein Litowitz Berger & Grossmann LLP (New New York), NY 10020
    (212) 554-1400 (212) 554-1448 ·
  2. Clark Hill PLC

    ·
  3. Grant & Eisenhofer (New York)
    485 Lexington Avenue, 29th Floor, Grant & Eisenhofer (New York), NY
    646.722.8500 646.722.8500 · lawyers@gelaw.com
  4. Martin & Drought, P.C.
    300 Convent St. Bank of America Plaza, 25th Floor , Martin & Drought, P.C., TX 78205
    (210) 227-7591 ·
No Document Title Filing Date
—Related District Court Filings Data is not available