Cases
Ferrellgas Partners, L.P. (NYSE : FGP)
Securities Class Action
Overview
Overview
- Date:
- 10/7/2016
- Company Name:
- Ferrellgas Partners, L.P.
- Stock Symbol:
- FGP
- Class Period:
- FROM 12/10/2014 TO 9/28/2016
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Southern District of New York
NEW YORK, October 7, 2016 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the New York Southern District Court on behalf of all persons or entities who acquired Ferrellgas Partners, L.P. (NYSE: FGP) securities between June 1, 2015 to September 28, 2016 (the “Class Period”).
According to the lawsuit, throughout the Class Period defendants issued false and misleading statements to investors and/or failed to disclose that: (1) Ferrellgas Partners’ propane sales were declining; (2) Ferrellgas Partners’ midstream logistics business was being negatively impacted by low crude oil prices; (3) Ferrellgas Partners’ Adjusted EBITDA would fall below its own projections; (4) Ferrellgas Partners was becoming more and more leveraged; (5) Ferrellgas Partners 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) Ferrellgas Partners would likely need to reduce its dividend; and (7) as a result, defendants’ statements about Ferrellgas Partners’ business, operations, and prospects were false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you acquired Ferrellgas securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
According to the lawsuit, throughout the Class Period defendants issued false and misleading statements to investors and/or failed to disclose that: (1) Ferrellgas Partners’ propane sales were declining; (2) Ferrellgas Partners’ midstream logistics business was being negatively impacted by low crude oil prices; (3) Ferrellgas Partners’ Adjusted EBITDA would fall below its own projections; (4) Ferrellgas Partners was becoming more and more leveraged; (5) Ferrellgas Partners 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) Ferrellgas Partners would likely need to reduce its dividend; and (7) as a result, defendants’ statements about Ferrellgas Partners’ business, operations, and prospects were false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you acquired Ferrellgas securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.