Liberty Oilfield Services, Inc. (NYSE: LBRT)
According to the Complaint, Liberty Oilfield Services, Inc. is a holding company with membership interests in Liberty Oilfield Services New HoldCo LLC ("Liberty LLC"). Through Liberty LLC, the Company provides hydraulic fracturing services and goods to onshore oil and natural gas exploration and production companies in North America.
Plaintiff brings this securities class action on behalf of persons who purchased or otherwise acquired Liberty Oilfield's securities pursuant and/or traceable to the registration statement and related prospectus issued in connection with Liberty Oilfield's January 17, 2018 initial public offering. The Complaint 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.