Class Action Filed On Behalf of Investors Of Covia Holdings Corporation – Investors Who Have Suffered Losses Greater Than $250,000 Encouraged To Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of Covia Holdings Corporation (“Covia” or the “Company”) (OTHER OTC: CVIAQ) to determine whether the Company engaged in securities fraud or other unlawful business practices.
INVESTORS WHO PURCHASED, OR OTHERWISE ACQUIRED, THE SECURITIES OF COVIA BETWEEN MARCH 15, 2016 AND JUNE 29, 2020, BOTH DATES INCLUSIVE (THE “CLASS PERIOD”), AND SUFFERED LOSSES GREATER THAN $250,000 ARE ENCOURAGED TO COMPLETE KEHOE LAW FIRM’S SECURITIES CLASS ACTION QUESTIONNAIRE OR CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO DISCUSS THE SECURITIES INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
A class action lawsuit has been filed against Covia, f/k/a Fairmount Santrol Holdings Inc., in United States District Court, seeking to recover damages on behalf of Covia investors.
According to the class action complaint, the Covia Defendants made false and/or misleading statements and/or failed to disclose that (1) Covia’s proprietary “value-added” proppants were not necessarily more effective than ordinary sand; (2) Covia’s revenues, which were dependent on its proprietary “value-added” proppants, was based on misrepresentations; (3) when Covia insiders raised this issue, defendants did not take meaningful steps to rectify the issue; and (4) as a result, the Covia Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.