NEW YORK–(BUSINESS WIRE)–$TUSK #classaction–The law firm of Kirby
McInerney LLP is investigating potential claims against Mammoth
Energy Services, Inc. (“Mammoth” or the “Company”) (NASDAQ: TUSK).
This investigation concerns whether Mammoth has violated federal
securities laws and/or engaged in other unlawful business practices.
On May 24, 2019, the Wall Street Journal published an article reporting
that a FEMA official responsible for overseeing the restoration of
Puerto Rico’s power grid was under investigation for improperly steering
reconstruction work to Cobra Acquisitions LLC (“Cobra”), a Mammoth
subsidiary. Cobra signed contracts of $900 million and $945 million for
work in Puerto Rico. On this news, Mammoth’s share price fell $0.50 per
share, approximately 4.1%, to close at $11.74 on May 24, 2019.
On June 5, 2019, the Wall Street Journal published a second article
reporting that Cobra was under investigation by the Federal Bureau of
Investigation and the Department of Homeland Security in connection with
how the Company “came to dominate the power restoration efforts” in
Puerto Rico. On this news, Mammoth’s share price fell $1.67 per share,
approximately 14.9%, to close at $9.53 on June 5, 2019.
If you acquired Mammoth securities, have information, or would like to
learn more about these claims, please contact Thomas
W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at [email protected],
or by filling out this
contact form, to discuss your rights or interests with respect to
these matters without any cost to you.
Kirby
McInerney LLP is a New York-based plaintiffs’ law firm concentrating
in securities, antitrust, and whistleblower litigation. The firm’s
efforts on behalf of shareholders in securities litigation have resulted
in recoveries totaling billions of dollars. Additional information about
the firm can be found at Kirby McInerney LLP’s website: www.kmllp.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq., (212) 371-6600
[email protected]
www.kmllp.com
