The Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Ferrellgas Partners, L.P. I...
21 October 2016 - 7:21AM
Business Wire
Law Offices of Howard G. Smith announces that a class
action lawsuit has been filed on behalf of investors who purchased
Ferrellgas Partners, L.P. (“Ferrellgas” or the “Company”) (NYSE:
FGP) securities between June 1, 2015, and September 28,
2016, inclusive (the “Class Period”).
Investors suffering losses on their Ferrellgas investments are
encouraged to contact the Law Offices of Howard G. Smith to discuss
their legal rights in this class action at 888-638-4847 or by email
to howardsmith@howardsmithlaw.com.
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 shares of Ferrellgas during the Class Period
you may move the Court no later than December 5,
2016 to ask the Court to appoint you as lead plaintiff if
you meet certain legal requirements. 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/20161020006571/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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