Securities Claim Against Oilfield Services Company Valid, Judge Rules

Mealey's (July 14, 2021, 8:10 AM EDT) -- DENVER — A federal judge in Colorado on July 12 ruled that a putative shareholder class action against a company that provides oilfield services to the hydraulic fracturing industry could proceed because the plaintiffs sufficiently pleaded a claim that the company made misleading statements.  The plaintiffs seek to recover damages for violations of the Securities Act of 1933 after the company’s share price dropped following its initial public offering (IPO)....