Ferrellgas Partners LP
0 DAYS LEFT TO SEEK LEAD PLAINTIFF STATUS
Case Summary | |
Company Name: | Ferrellgas Partners LP |
Stock Symbol : | NYSE:FGP |
Class Period Start: | 06/01/2015 |
Class Period End: | 09/28/2016 |
Lead Plaintiff motion: | 12/05/2016 |
Date Filed: | 10/06/2016 |
Type of Case: | Securities Class Action |
Court: | U.S. District Court for the Southern District of New York |
Summary: | Thieler Law Corp advises investors with losses exceeding $100,000 of the December 5, 2016 lead plaintiff deadline in a class action lawsuit filed against Ferrellgas Partners LP (NYSE:FGP) (“Ferrellgas” or “the Company”). The suit is pending in the U.S. District Court for the Southern District of New York and investors, who purchased Ferrellgas Partners LP securities between June 1, 2015, and September 28, 2016, have until December 5, 2016 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class. If you purchased Ferrellgas Partners LP securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class. The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that that the Company’s propane sales were declining; that the Company’s midstream logistics business was being negatively impacted by low crude oil prices; that, as such, the Company’s Adjusted EBITDA would fall below the Company’s projections; that the Company was becoming more and more leveraged; that, in response, the Company would need to obtain an amendment under the secured credit facility and accounts receivable securitization facility to increase the maximum leverage ratio to a range of 5.95x to 6.05x; and as a result of the foregoing, Ferrellgas would likely need to reduce its dividend. On September 28, 2016, Ferrellgas revealed that they had a net loss for fiscal 2016 of approximately $665 million and that the Company's President, CEO and Director Stephen Warnbold resigned immediately. Following this news, NYSE:FGP decreased in value. If you were negatively impacted by your investment in Ferrellgas Partners LP securities between June 1, 2015, and September 28, 2016 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation. Thieler Law Corp purchases advertisements on search engines, social media sites and other websites. If you send us information, note that does not create an attorney-client relationship with the firm. Thieler Law Corp 2534 State Street - Suite 406, San Diego, CA 92101 by email: mail@thielerlaw.com or telephone at +1 (619) 377 - 4324 or visit our website http://www.thielerlaw.com/ or Facsimile: +1 (619) 785 – 3185 |