BIRMINGHAM, Ala., Dec. 14, 2012 (GLOBE NEWSWIRE) -- The law firm of DONALDSON & GUIN, LLC is investigating Hi-Crush Partners, LP ("Hi-Crush") for potential securities law violations following its disclosure that Baker Hughes Incorporated ("Baker Hughes") had repudiated a long-term supply contract with Hi-Crush related to Hi-Crush's production of monocrystalline sand, which is used to enhance recovery rates of hydrocarbons from oil and gas wells.
According to Donaldson & Guin, LLC law partner, Tammy Stokes, "We believe that the contract with Baker Hughes had a material impact on Hi-Crush's business. If the company failed to disclose significant problems with that contract to its investors, those investors may have valuable claims against the company or certain of its officers and directors for violating federal securities laws."
A class action has been filed in federal court in New York on behalf of anyone who bought Hi-Crush securities pursuant or traceable to its Registration Statement and Prospectus issued in connection with its initial public offering on or about August 16, 2012. By law, anyone who bought Hi-Crush securities pursuant or traceable to this IPO has until January 22, 2013 to ask the court to name them the lead plaintiff for the lawsuit. Although an investor does not have to be named a lead plaintiff to participate in a securities class action, the lead plaintiff has more power to control the litigation and the lawyers representing the investors.
Hi-Crush investors who experienced large losses and who are interested in serving as lead plaintiffs for this class action lawsuit are encouraged to contact Tammy Stokes of Donaldson & Guin by email at email@example.com or telephone at 205-503-4512 to discuss their legal rights and options.
The law firm of Donaldson & Guin, LLC, with offices in Chicago and Birmingham, represents individuals, businesses and institutional investors in complex financial litigation, including securities, antitrust and similar litigation. For more information about the firm, please visit http://www.donaldsonguin.com. No representation is made that the quality of legal services to be performed is greater than the quality of legal services performed by other attorneys.