Company name Liberty Oilfield Services, Inc.
Stock symbol LRBT
Status Class Action Complaint Filed

NEW YORK, May 20, 2020–Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed in the United States District Court for the District of Colorado on behalf of investors that purchased Liberty Oilfield Services, Inc. (NYSE: LBRT)  securities pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with Liberty Oilfield’s January 17, 2018 initial public offering (the “IPO” or “Offering”). Investors have until June 2, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

On January 17, 2018, Liberty Oilfield held its IPO, issuing approximately 14.6 million shares of Class A stock to the investing public at $17.00 per share, pursuant to the Registration Statement.

By the commencement of this action, Liberty Oilfield’s shares have traded significantly below its IPO price. As a result, investors were damaged.

The complaint, filed on April 3, 2020, alleges that the Registration Statement featured false and/or misleading statements and/or failed to disclose that: (1) there was an oversupply in the hydraulic fracturing services market; (2) the Company’s pricing power was weak; (3) the Company’s services were not increasing and its competition was not decreasing; and (4) as a result, defendants’ statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

If you purchased  Liberty Oilfield securities pursuant and/or traceable to the Registration Statement, have information, 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 Fortunato or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.

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The submission of this form does not create an attorney-client relationship, nor any obligation on the part of Bragar Eagel & Squire, P.C., or you to file a legal action. Any information you submit will be maintained as confidential. If Bragar Eagel & Squire, P.C., in its sole discretion, believes that you might be an appropriate class representative, Bragar Eagel & Squire, P.C., will contact you to discuss the matter and to determine whether to establish an attorney client relationship.