PHILADELPHIA, June 6, 2020 /PRNewswire/ -- Kaskela Law LLC announces that it is investigating ProPetro Holding Corp. ("ProPetro" or the "Company") (NYSE: PUMP) on behalf of the Company's stockholders.
On August 8, 2019, ProPetro disclosed that it was delaying the filing of its quarterly report with the SEC "due to an ongoing review by the audit committee of the Company's board of directors" of certain financial matters. Following this news, shares of the Company's stock declined $4.59 per share, or over 26% in value, to close at $12.75 per share on August 9, 2019, on heavy trading volume.
Subsequently, on February 24, 2020, ProPetro disclosed that its Audit Committee's "internal review has identified a number of internal and disclosure control deficiencies," and that "Company's management has to date concluded that there were multiple material weaknesses that resulted in the Company's internal control over financial reporting and disclosure controls and procedures not being effective as of a prior date."
The investigation seeks to determine whether ProPetro's officers and directors breached their fiduciary duties in connection with the above concerning the Company's financial reporting.
Current ProPetro stockholders who purchased or acquired shares of the Company's common stock prior to January 1, 2019 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585, or via email at skaskela@kaskelalaw.com or online at http://kaskelalaw.com/case/propetro/ for additional information about this investigation and their legal rights and options.
Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.
CONTACT:
D. Seamus Kaskela, Esq.
KASKELA LAW LLC
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(484) 258 – 1585
(888) 715 – 1740
www.kaskelalaw.com
skaskela@kaskelalaw.com
"corp" - Google News
June 06, 2020 at 08:00PM
https://ift.tt/3czzPcM
Kaskela Law LLC Announces Investigation of ProPetro Holding Corp. (PUMP) and Encourages Long-Term PUMP Investors to Contact the Firm - WFMZ Allentown
"corp" - Google News
https://ift.tt/2RhVoHj
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
Bagikan Berita Ini
0 Response to "Kaskela Law LLC Announces Investigation of ProPetro Holding Corp. (PUMP) and Encourages Long-Term PUMP Investors to Contact the Firm - WFMZ Allentown"
Post a Comment