A class action lawsuit was filed on behalf of purchasers of the securities of Mammoth Energy Services, Inc. (NasdaqGS: TUSK) from October 19, 2017 through June 5, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for investors of Mammoth Energy Services, Inc. (“Mammoth Energy” or the “Company”) caused by the Mammoth Energy Defendant’s violations of the federal securities laws under the Securities Exchange Act of 1934.
If you purchased Mammoth Energy securities during the Class Period and suffered damages, please click Join a Securities Class Action or contact either John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], or Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], to learn more about the class action lawsuit. Mammoth Energy investors have until August 6, 2019 to move the Court to serve as lead plaintiff.
According to the complaint, during the Class Period, the Mammoth Energy Defendants made false and/or misleading statements and/or failed to disclose that: (1) Mammoth Energy’s subsidiary, Cobra, improperly obtained two infrastructure contracts with PREPA that totaled over $1.8 billion; (2) specifically, the contracts were awarded as the result of improper steering and not a competitive RFP process; and (3) as a result, Defendants’ statements about Mammoth Energy’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.