STEVENSON, Md., Dec. 5, 2012 (GLOBE NEWSWIRE) -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of Hi-Crush Partners LP ("Hi-Crush" or the "Company") (NYSE: HCLP) in and/or following the Company's initial public offering on or about August 16, 2012, inclusive (the "IPO").
If you have suffered a net loss for all transactions in Hi-Crush Partners LP common stock during the IPO, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at email@example.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than January 22, 2013 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the IPO. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff.
The complaint accuses the defendants of violations of the Securities Act of 1933 by virtue of the Company's failure to disclose in connection with the IPO that prior to the IPO, Baker Hughes had sought to change the terms of, or cancel, its supply contract with Hi-Crush, contrary to statements made in connection with the IPO that the Company's relationship with Baker Hughes, one of the Company's largest customers, was strong and a stable source of long-term cash flow. According to the complaint, following the Company's November 13, 2012 announcement that Baker Hughes was unilaterally terminating its supply contract with Hi-Crush, the value of Hi-Crush shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional Corporation Stevenson, Maryland 410/415-6616 firstname.lastname@example.orgSource: Brower Piven, A Professional Corporation