Liberty Oilfield Services Inc.
Lead Plaintiff Deadline: 06/02/2020
SUMMARY OF CASE:
A securities class action has been filed against Liberty Oilfield Services Inc. (LBRT) on behalf of purchasers of the securities of Liberty Oilfield pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with Liberty Oilfield’s January 11, 2018 initial public offering (the “IPO” or “Offering”). This case has been filed in the USDC – CO.
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. When the true details entered the market, the lawsuit claims that investors suffered damages.