LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the December 5, 2016 deadline to file a lead plaintiff motion in the class action lawsuit filed on behalf of investors who purchased or otherwise acquired Ferrellgas Partners, L.P. (“Ferrellgas” or the “Company”) (NYSE: FGP) securities between June 1, 2015 and September 28, 2016, inclusive (the “Class Period”).
The complaint filed in this action alleges that throughout the Class Period, Defendants made several materially false and/or misleading statements regarding the Company’s business prospects and earnings, including: (1) that the Company’s propane sales were declining; (2) that the Company’s midstream logistics business was being negatively impacted by low crude oil prices; (3) that, as such, the Company’s Adjusted EBITDA would fall below the Company’s projections; (4) that the Company was becoming more and more leveraged; (5) that, in response, the Company would need to obtain an amendment under the secured credit facility and accounts receivable securitization facility to increase the maximum leverage ratio to a range of 5.95x to 6.05x; (6) that, as a result of the foregoing, the Company would likely need to reduce its dividend; and (7) that, as a result of the foregoing, Defendants’ statements about Ferrellgas’ business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
If you purchased or otherwise acquired Ferrellgas shares during the Class Period, you may move the Court no later than December 5, 2016 to request appointment as lead plaintiff. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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