GPM Reminds Investors of the December 5th Deadline in the Class Action Lawsuit Against Ferrellgas Partners, L.P. & Encourages...
December 01 2016 - 2:08PM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) reminds investors of the
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 several materially false and/or
misleading statements regarding the Company’s business prospects
and earnings, including: (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 or otherwise acquired Ferrellgas shares during
the Class Period, 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 Lesley Portnoy,
Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles,
California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by
email to shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com. If you inquire by email please include
your mailing address, telephone number and number of shares
purchased.
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/20161201006245/en/
Glancy Prongay & Murray LLP, Los AngelesLesley Portnoy,
310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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