NEW YORK, Oct. 14, 2016 (GLOBE NEWSWIRE) — Attorney Advertising — Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Ferrellgas Partners LP (“Ferrellgas” or the “Company”) (NYSE:FGP) and certain of its officers, on behalf of shareholders who purchased Ferrellgas securities from June 1, 2015, and September 28, 2016, inclusive (the “Class Period”).
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”).
Ferrellgas is an American supplier and distributer of propane and related equipment.
On September 28, 2016 Ferrellgas announced an approximate $665 million net loss for the fiscal year 2016, despite its net profit of $29 million for fiscal year 2015. Ferrellgas’ President, CEO and Director, Stephen Warnbold also resigned immediately. Additionally, Ferrellgas reported that “it is possible that the annual distribution rate may be reduced from $2.05 to approximately $1.00 per common unit” in order to reduce the Company’s debt and leverage ratio. Following this news, Ferrellgas stock dropped $3.50 per share, or over 21%, to close on September 28, 2016 at $13.00, on unusually high trading volume. The following day Ferrellgas stock dropped another $1.23 per share, to close on September 29, 2016 at $11.77.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: http://www.bgandg.com/fgp or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email email@example.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in Ferrellgas 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.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Contact: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | firstname.lastname@example.org