SHAREHOLDER ALERT: Goldberg Law PC Announces Securities Class Action Lawsuit against Ferrellgas Partners LP & Encourages Inve...
October 06 2016 - 8:18PM
Business Wire
Goldberg Law PC (the “Firm”) announces a class action lawsuit
has been filed against Ferrellgas Partners LP (“Ferrellgas” or the
“Company”) (NYSE: FGP). Investors who purchased or otherwise
acquired shares between June 1, 2015 and September 28, 2016 (the
“Class Period”), are encouraged to contact the Firm in advance of
the December 5, 2016 lead plaintiff motion
deadline.
If you are a shareholder who suffered a loss during the Class
Period, click here to participate. In addition, we advise
you to contact Michael Goldberg or Brian Schall, of Goldberg Law
PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at
800-977-7401, to discuss your rights without cost to you. You can
also reach us through the firm’s website at
http://www.Goldberglawpc.com, or by email at
info@goldberglawpc.com.
The class in this case has not yet been certified, and until
certification occurs, you are not represented by an attorney. If
you choose to take no action, you can remain an absent class
member.
The complaint alleges that during the Class Period, Ferrellgas
made false and/or misleading statements and/or failed to disclose:
that its propane sales were declining; that the Company’s midstream
logistics business was being negatively affected by lower crude oil
prices; that Ferrellgas’ Adjusted EBITDA would fall below its
projections; that the Company was becoming increasingly leveraged
and 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 - 6.05x;
that Ferrellgas would likely need to reduce its dividend; and that
as a result of the above, the Company’s statements about its
business, operations, and prospects were false and misleading
and/or lacked a reasonable basis at all relevant times. On
September 28, 2016, Ferrellgas announced that had a net loss for
fiscal 2016 of approximately $665 million, whereas it had a net
profit of $29 million for fiscal 2015. Also, the Company’s
President, CEO and Director Stephen Warnbold resigned immediately.
When this news was announced, shares of Ferrellgas dropped in value
sharply, causing investors harm.
Goldberg Law PC represents shareholders around the world and
specializes in securities class actions and shareholder rights
litigation.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161006006558/en/
Goldberg Law PC, Los AngelesMichael Goldberg, Esq.,
800-977-7401Brian Schall, Esq.,
800-977-7401info@goldberglawpc.comwww.Goldberglawpc.com
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