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BOSTON, June 09, 2019 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, announces that a securities fraud class action has been filed against Mammoth Energy Services Inc. (NASDAQ: TUSK), and certain of its officers. Shareholders who lost money on their investments are encouraged to contact Block & Leviton LLP to learn more.
The pending lawsuit alleges that between October 19, 2017 through June 5, 2019 (the “Class Period”): (1) Mammoth Energy’s subsidiary, Cobra, improperly obtained infrastructure contracts in Puerto Rico which totaled over $1.8 billion; (2) and that as a result, Defendants’ statements about Mammoth Energy’s business, operations and prospects were materially false and/or misleading.
When the truth became known, Mammoth Energy’s share price dropped more than 45%.
If you purchased Mammoth Energy shares during the Class Period and want to become involved in the litigation or have questions about your legal rights, you are encouraged to contact Block & Leviton LLP at (617) 398-5660, by email at firstname.lastname@example.org, or by visiting http://shareholder.law/cases/?case=mammoth.
As a member of the class, you may seek to file a motion to serve as a lead plaintiff or take no action and remain an absent class member. If you wish to serve as a lead plaintiff, you must move the Court no later than August 6, 2019.
The complaint in this case was filed in the United States District Court, Western District of Oklahoma, and is captioned Scuderi v. Mammoth Energy Services Inc., et al., No. 19-cv-522.
Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
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SOURCE Block & Leviton LLP