NEW YORK--(BUSINESS WIRE)--Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Covia Holdings Corporation f/k/a Fairmount Santrol Holdings Inc. ("Covia" or “the Company”) (OTC: CVIAQ) (NYSE: CVIA) (NYSE: FMSA) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Covia securities between March 15, 2016 to June 29, 2020, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/cviaq.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Covia's proprietary "value-added" proppants were not necessarily more effective than ordinary sand; (2) Covia's revenues, which were dependent on its proprietary "value-added" proppants, was based on misrepresentations; (3) when Covia insiders raised this issue, defendants did not take meaningful steps to rectify the issue; and (4) as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to join the class action you can review a copy of the Complaint and sign the certification form on the firm’s site: www.bgandg.com/cviaq or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Covia you have until February 8, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.