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Investigation announced for Investors in shares of ProPetro Holding Corp. (NYSE: PUMP)

08-27-2019 04:18 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation for investors in ProPetro Holding Corp. (NYSE: PUMP) shares over potential securities laws violations by ProPetro

An investigation for investors in ProPetro Holding Corp. (NYSE: PUMP) shares over potential securities laws violations by ProPetro

ProPetro Holding Corp. is under investigation over potential securities laws violations in connection with certain financial statements.

Investors who purchased shares of ProPetro Holding Corp. (NYSE: PUMP), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of ProPetro Holding Corp. (NYSE: PUMP) concerning whether a series of statements by ProPetro Holding Corp. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Midland, TX based ProPetro Holding Corp., an oilfield services company, provides pressure pumping and other related services. ProPetro Holding Corp. reported that its annual Total Revenue rose from $981.86 million in 2017 to over $1.7 billion in 2018 and that its Net Income increased from $12.61 million in 2017 to $173.86 million in 2018.
On August 8, 2019, ProPetro Holding Corp announced that it is delaying its second quarter earnings conference call and quarterly report, citing an ongoing review by its audit committee. Among other things, the review concerned related party transactions, potential conflicts of interest, and expense reimbursements.

Shares of ProPetro Holding Corp. (NYSE: PUMP) declined from $21.83 per share in early July 2019 to as low as $10.19 per share on August 23, 2019.

Those who purchased shares of ProPetro Holding Corp. (NYSE: PUMP) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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