Securities Antitrust Consumer Fraud Structured Finance Whistleblower/Qui Tam Corporate Governance Mergers & Acquisitions ERISA Healthcare Fraud
PartnersOf Counsel Associates Staff Attorneys All
M & A Investigations New Federal Securities Cases Current CasesSettlements & Class Notices Accolades
Our Institutional Monitoring Service Our ProcessReporting Custom Monitoring
Articles Press Releases Television
Contact Us Join a Class Action Report a Fraud

Settlements & Class Notices

Hi-Crush Partners LP

We are the Court-appointed lead counsel in a securities class action in the Southern District of New York against Hi-Crush Partners LP ("Hi-Crush" or "the Company") and certain subsidiaries and officers. The action was brought on behalf of all persons who purchased or otherwise acquired common units of Hi-Crush Partners LP, pursuant and/or traceable to the Registration Statement and Prospectus issued in connection with its August 16, 2012 initial public units offering ("IPO"), including units purchased on the open market during the period from August 16, 2012 through November 12, 2012, inclusive. As discussed below, the temporal scope of the lawsuit was narrowed by subsequent court ruling.

The case alleges that on September 25, 2012, Hi-Crush posted an investor presentation on its website touting the Company's long-standing relationships with major clients including Baker Hughes, which accounted for more than 18% of Hi-Crush's revenue at the time. In the presentation, the Company did not disclose that on September 19, 2012, Baker Hughes had terminated its contract with Hi-Crush, stating that Hi-Crush was in breach. When, on November 13, 2012 Hi-Crush was forced to disclose that Baker Hughes had unilaterally repudiated their supply contract, Hi-Crush's stock price fell $5 per share, or 25%, on extremely high trading volume of more than 3.3 million shares trading.

On December 2, 2013, the court denied in substantial part defendants' motion to dismiss plaintiffs' claims. Specifically, the court ruled that plaintiff had stated a claim against Hi-Crush and certain officers for violation of the Securities Exchange Act of 1934 during the period from September 25, 2012 through November 12, 2012.

On September 15, 2014, the Court preliminarily approved a $3.8 million settlement and final approval was granted on December 19, 2014. For further information, please visit the settlement website at www.hicrushsecuritiessettlement.com.


Accompanying Documents

To view a copy of the Settlement Notice, please click here

To view a copy of the Proof of Claim, please click here

To view a copy of the Final Approval Order, please click here

To view a copy of the Amended Complaint, please click here

To view a copy of the Court's ruling on the Motion to Dismiss, please click here

To view a copy of the Declaration of Ira M. Press in support of Settlement, Plan of Allocation and award of Attorneys' Fees and Reimbursement of Expenses, please click here

To view a copy of the Notice of Lead Plaintiffs' Motion for Final Approval of Proposed Class Settlement and Plan of Allocation, please click here

To view a copy of the Notice of Lead Counsel's Motion for an Award of Attorneys' Fees and Reimbursement of Expenses, please click here

To view a copy of the Memorandum of Law in Support of Lead Counsel's Motion for Award of Attorneys' Fees and Reimbursement of Expenses, please click here

To view a copy of the Memorandum of Law in Support of Lead Plaintiffs' Motion for Final Approval of Proposed Class Settlement and Plan of Allocation, please click here


Other KM News

What If The Government Says A False Claim Isn't False? >>

Kirby McInerney Named to The National Law Journal's Plaintiffs' Hot List >>

Kirby McInerney Profiled in Law360's Most Feared Plaintiffs Firms list >>

Kirby McInerney LLP Announces $590 Million Proposed Settlement of Class Action Claims Against Citigroup Inc. >>

Kirby McInerney LLP Announces $75 Million Settlement of Securities Class Action Against Wachovia >>

Kirby McInerney LLP Announces $168 Million Settlement of Securities Class Action Against National City Corporation >>

Kirby McInerney LLP Files Lawsuit Alleging 13 Banks Fixed Libor Rates >>

Kirby McInerney Appears Before United States Supreme Court Concerning Janus Securities Class Action >>

Ira Press Appears on CNBC Squawk Box to Discuss Denial of Motion to Dismiss Class Action Against Citigroup >>

Court Upholds Major Claims Against Citigroup, Prince, Crittenden, and Rubin in KM-led Lawsuit >>



Kirby McInerney LLP | 825 Third Avenue | NYC 10022 | Tel. 212.371.6600 | Fax 212.751.2540

Attorney Advertising - Prior Results do not Guarantee a Similar Outcome




Law Firm Web Design by Business Edge