San Diego, CA -- (ReleaseWire) -- 11/19/2012 -- An investigation on behalf of investors of Hi-Crush Partners LP (NYSE:HCLP) shares over potential securities laws violations by Hi-Crush Partners LP and certain of its directors and officers in connection certain financial statements was announced .
Investors who purchased units of Hi-Crush Partners LP (NYSE:HCLP), have certain options and should contact the Shareholders Foundation at mail(at)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 Hi-Crush Partners LP (NYSE:HCLP) concerning whether a series of statements by Hi-Crush Partners LP regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On August 16, 2012, Hi-Crush Partners LP raised proceeds of approximately $220 million in its initial public offering (“IPO”), selling approximately 12.9 million common units at $17 per unit.
Units of Hi-Crush Partners LP (NYSE:HCLP) reached on Sept. 24, 2012, $22.74 per unit.
Then on November 13, 2012, before the market opened, Hi-Crush Partners LP reported its third quarter 2012 results. Among other things, Hi-Crush Partners LP also disclosed the termination of the supply agreement with Baker Hughes Oilfield Operations, Inc. Hi-Crush Partners LP said that on September 19, 2012, Baker Hughes provided notice that it was terminating the contract. Hi-Crush Partners LP said it believes that Baker Hughes’ termination was wrongful and a direct effort to circumvent its binding purchase obligations under the supply agreement.
Units of Hi-Crush Partners LP (NYSE:HCLP) dropped from $20.79 per unit on Nov. 9, 2012 to as low as $13.44 per unit on November 13, 2012.
On November 14/5, 2012 NYSE:HCLP units closed at $15.29.
Those who purchased units of Hi-Crush Partners LP (NYSE:HCLP) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego