Deadline Alert: Law Offices of Howard G. Smith Reminds Investors of the Upcoming December 5th Deadline in the Class Action La...
November 22 2016 - 11:11AM
Business Wire
Law Offices of Howard G. Smith reminds investors of the
upcoming December 5, 2016 deadline to file a lead
plaintiff motion in the class action lawsuit filed on behalf of
investors who purchased or otherwise acquired Ferrellgas Partners,
L.P. (“Ferrellgas” or the “Company”) (NYSE: FGP) securities between
June 1, 2015 and September 28, 2016, inclusive (the “Class
Period”).
The complaint filed in this action alleges that throughout the
Class Period, Defendants made materially false and/or misleading
statements, as well as failed to disclose material adverse facts
about the Company’s business, operations, and prospects.
Specifically, Defendants made false and/or misleading statements
and/or failed to disclose: (1) that the Company’s propane sales
were declining; (2) that the Company’s midstream logistics business
was being negatively impacted by low crude oil prices; (3) that, as
such, the Company’s Adjusted EBITDA would fall below the Company’s
projections; (4) that the Company was becoming more and more
leveraged; (5) 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; (6) that, as a result of the
foregoing, the Company would likely need to reduce its dividend;
and (7) that, as a result of the foregoing, Defendants’ statements
about Ferrellgas’ business, operations, and prospects, were false
and misleading and/or lacked a reasonable basis.
If you purchased Ferrellgas shares, you may move the Court no
later than December 5, 2016 to request appointment
as lead plaintiff. To be a member of the class you need not take
any action at this time; you may retain counsel of your choice or
take no action and remain an absent member of the Class. If you
wish to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests
with respect to these matters, please contact Howard G. Smith,
Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike,
Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215)
638-4847, toll-free at (888) 638-4847, or by email
to howardsmith@howardsmithlaw.com, or visit our website
at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20161122005786/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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