LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz is investigating potential claims against the board of directors of Liberty Oilfield Services Inc. ("Liberty" or "the Company") (NYSE: LBRT) concerning whether the board breached its fiduciary duties to shareholders.
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On February 5, 2020, after the market closed, Liberty issued a press release announcing its financial and operations results for fourth quarter and full year 2019. Therein, Liberty reported full year adjusted EBITDA of $277 million, or a 37% decline over the prior year, and diluted earnings per share of $0.53, which fell significantly short of analyst forecasts.
On this news, Liberty's stock price fell $1.07, or over 12%, to close at $7.80 per share on February 6, 2020, thereby injuring investors.
Our investigation concerns whether the Company’s board of directors breached its fiduciary duties to shareholders and/or grossly mismanaged the Company in connection with the above alleged misconduct.
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If you still hold Liberty shares purchased before February 5, 2020 and wish to discuss this matter with us, or have any questions concerning your rights and interests with regards to this matter, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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