BOSTON, May 24, 2019 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, is investigating whether Mammoth Energy Services, Inc. (TUSK) and certain of its officers and directors violated federal securities laws.
On May 24, 2019, the Wall Street Journal published an article titled, “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 is under investigation for allegedly steering post-hurricane work to one of Mammoth’s subsidiaries. The subsidiary had signed separate contracts worth up to $900 million and $945 million to repair downed transmission and distribution lines in Puerto Rico.
Following this article, Mammoth’s share price dropped more than 4%.
We are investigating the possibility of filing a lawsuit against Mammoth. If you have purchased or otherwise acquired Mammoth securities and have questions about your legal rights, or possess information relevant to this investigation, you are encouraged to contact attorney Dan DeMaria at (888) 868-2385, by email at firstname.lastname@example.org, or by visiting http://shareholder.law/cases/?case=mammoth.
Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
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