The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Mammoth Energy Services, Inc. (NASDAQ: TUSK) who purchased shares between October 19, 2017 and June 5, 2019. The action, which was filed in the United States District Court for the Western District of Oklahoma, alleges that the Company violated federal securities laws.
In particular, the Mammoth lawsuit alleges that (1) Mammoth’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’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Shareholders have until August 6, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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