BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that investors of Hi-Crush Partners LP (“Hi-Crush” or the “Company”) (NYSE:HCLP) have until January 22, 2013 to move the Court to serve as lead plaintiff in the securities fraud class action lawsuit filed in the United States District Court for the Southern District of New York on behalf of a class (the “Class”) comprising all persons or entities who purchased Hi-Crush shares pursuant or traceable to the Company’s August 16, 2012 initial public offering (the “IPO”).
Hi-Crush engages in the mining and processing of “frac sand” for use in hydraulic fracturing operations in oil and gas wells. The Complaint alleges that the Prospectus and Registration Statement filed in connection with the IPO contained materially false and misleading statements and omitted material information concerning one of the Company’s largest customers -- Baker Hughes Oilfield Operations, Inc. (“Baker Hughes”) -- including that: (i) as early as February 2012 Baker Hughes sought to change material terms of its contract with Hi-Crush and had expressed an unwillingness to comply with the current contract; and (ii) prior to the IPO, Baker Hughes began refusing to take or pay for Hi-Crush’s frac sand.
If you are a member of the Class described above, you have certain rights, and have until January 22, 2013 to move for lead plaintiff status. To be a member of the class you need not take any action at this time, or may retain counsel of your choice. If you wish to discuss this action or learn more concerning your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020; by telephone at (215) 638-4847, Toll Free at (888) 638-4847; or by email to firstname.lastname@example.org; or visit our website at http://www.howardsmithlaw.com.