NEW YORK--(BUSINESS WIRE)--
Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of investors of Mammoth Energy Services, Inc. (TUSK) resulting from allegations that Mammoth may have issued materially misleading business information to the investing public.
On May 24, 2019, the Wall Street Journal published an article entitled “FEMA Official Probed Over Puerto Rico Power Restoration”. According to the article, a high-ranking Federal Emergency Management Agency official who oversaw the reconstruction of Puerto Rico’s electrical grid after Hurricane Maria is under investigation for allegedly steering work to Cobra, a Mammoth subsidiary. The subsidiary had signed separate contracts worth up to $900 million and $945 million to repair downed transmission and distribution lines in Puerto Rico.
On this news, Mammoth’s stock price fell $0.50 per share, or approximately 4%, to close at $11.74 per share on May 24, 2019.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Mammoth investors. If you purchased shares of Mammoth, please visit the firm’s website at https://www.rosenlegal.com/cases-register-1587.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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