The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Southern District of New York on behalf of investors who purchased Ferrellgas Partners, L.P. (NYSE: FGP) securities between March 11, 2015 and September 28, 2016.
According to the complaint, throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (a) Ferrellgas’ propane sales were declining; (b) the Company’s midstream logistics business was being negatively affected by lower crude oil prices; (c) its Adjusted EBITDA would fall below its projections; (d) the Company was becoming increasingly leveraged and 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 – 6.05x; (e) Ferrellgas would likely need to reduce its dividend; and (f) as a result of the above, the Company’s statements about its business, operations, and prospects were false and misleading and/or lacked a reasonable basis at all relevant times.
If you suffered a loss in Ferrellgas Partners you have until December 5, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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