LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Todd M. Garber announces that it is investigating potential claims against Hi-Crush Partners LP (“Hi-Crush” or the “Company”) (NYSE:HCLP) concerning possible violations of federal securities laws. The investigation is related to allegations that certain statements issued by Hi-Crush were false and misleading concerning the Company’s financial prospects.
Hi-Crush engages in the mining and processing of “frac sand” for use in hydraulic fracturing operations in oil and gas wells. The Complaint alleges that the Prospectus and Registration Statement filed in connection with the Company’s August 16, 2012 initial public offering (the “IPO”) contained materially false and misleading statements and omitted material information concerning one of the Company’s largest customers -- Baker Hughes Oilfield Operations, Inc. (“Baker Hughes”) -- including that: (1) as early as February 2012 Baker Hughes sought to change material terms of its contract with Hi-Crush and had expressed an unwillingness to comply with the current contract; and (2) prior to the IPO, Baker Hughes began refusing to take or pay for Hi-Crush’s frac sand.
If you purchased Hi-Crush shares, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to firstname.lastname@example.org.
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