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Case Status:    SETTLED
On or around 10/07/2022 (Date of order of final judgment)

Filing Date: April 03, 2020

According to the Complaint, Liberty Oilfield Services, Inc. is a holding company with membership interests in Liberty Oilfield Services New HoldCo LLC ("Liberty LLC"). Through Liberty LLC, the Company provides hydraulic fracturing services and goods to onshore oil and natural gas exploration and production companies in North America.

Plaintiff brings this securities class action on behalf of persons who purchased or otherwise acquired Liberty Oilfield’s securities pursuant and/or traceable to the registration statement and related prospectus issued in connection with Liberty Oilfield’s January 17, 2018 initial public offering. The Complaint alleges that the Registration Statement featured false and/or misleading statements and/or failed to disclose that: (1) there was an oversupply in the hydraulic fracturing services market; (2) the Company's pricing power was weak; (3) the Company's services were not increasing and its competition was not decreasing; and (4) as a result, Defendants’ statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On August 7, 2020, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on August 31. Defendants filed a Motion to Dismiss the amended Complaint on October 8. On July 12, 2021, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

On October 13, 2021, Lead Plaintiff filed a second amended Complaint. Lead Plaintiff filed a Motion for Class Certification on November 1.

The parties entered into a Stipulation of Settlement on May 9, 2022. On May 17, the Court granted preliminary approval of the Settlement. On October 7, the Court granted final approval of the Settlement, including an award of Attorneys’ Fees and Expenses, and entered Final Judgment.

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