NEW YORK, June 07, 2019 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces it has commenced an investigation of Mammoth Energy Services, Inc. (“Mammoth” or “the Company”) (TUSK) concerning possible violations of federal securities laws.
On May 24, 2019, the Wall Street Journal reported that FEMA Deputy Regional Administrator Ahsha Tribble, who was involved in the reconstruction of Puerto Rico following Hurricane Maria, is under investigation for directing electrical grid work contracts to Cobra Acquisitions LLC (“Cobra”), a Mammoth subsidiary. Cobra signed contracts worth up to $900 million and $945 million each. Following this news, the Company’s share price fell over 4%. Mammoth stock continued to plummet when, on June 5, 2019, the Wall Street Journal reported that Cobra was under investigation by the Federal Bureau of Investigation and the Department of Homeland Security, “examining how the [Company] came to dominate the power restoration efforts” in Puerto Rico. To obtain additional information, go to:
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Levi & Korsinsky, LLP
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