INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf Liberty Oilfield Services Inc. (LBRT) Investors

BENSALEM, Pa.--()--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Liberty Oilfield Services Inc. ("Liberty" or "the Company") (NYSE: LBRT) securities pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s January 17, 2018 initial public offering (the “IPO” or “Offering”). Liberty investors have until June 2, 2020 to file a lead plaintiff motion.

Investors suffering losses on their Liberty investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

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.

The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose: (1) that there was an oversupply in the hydraulic fracturing services market; (2) that the Company's pricing power was weak; (3) that the Company's services were not increasing and its competition was not decreasing; and (4) as a result, Defendants’ statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

If you purchased Liberty securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or 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 howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com

Release Summary

INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf Liberty Oilfield Services Inc. Investors

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Contacts

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com