Abraham, Fruchter & Twersky, LLP Announces That It Has Been Retained to File a Class Action With Respect to the IPO of Quest Ene
September 10 2008 - 4:48PM
Marketwired
Abraham, Fruchter & Twersky, LLP ("AF&T") has been retained
to file a class action law suit arising out of the initial public
offering ("IPO" or the "Offering") of Quest Energy Partners LP
("Quest Energy") (NASDAQ: QELP) on behalf of purchasers of common
units from the date of the IPO on or about November 7, 2007 through
August 25, 2008 (the "Class Period").
Quest Energy's IPO of 9,100,000 shares at $18.00 per share on
November 7, 2007 raised proceeds of approximately $150 million. On
August 25, 2008, Quest Energy announced the resignation of CEO
Jerry Cash after the Oklahoma Department of Securities' inquiry
concerning, among other issues, questionable transfers of Quest
Energy funds to an entity Mr. Cash controlled.
A complaint already filed charges Quest Energy, certain of its
officers, and a controlling entity with including, or allowing the
inclusion of, materially false and misleading statements in the
Registration Statement and Prospectus issued in connection with the
IPO, in violation of the Securities Act of 1933. In particular, the
complaint alleges that the statements made in connection with the
IPO were materially false and misleading because of the failure to
properly disclose related party transactions between its former CEO
and an entity he controlled.
Plaintiff is represented by Abraham, Fruchter & Twersky,
LLP, which has expertise in prosecuting investor class actions. If
you wish to serve as lead plaintiff, you must move the Court by
November 4, 2008. To serve as lead plaintiff, you must meet certain
legal requirements set forth in the applicable law and file
appropriate papers with the Court. You do not need to seek
appointment as a lead plaintiff in order to share in any recovery.
Under certain circumstances, one or more Class members may together
serve as lead plaintiff. You may retain Abraham, Fruchter &
Twersky, LLP, or other counsel of your choice, to serve as your
counsel in this action or you may choose to do nothing and remain
an absent class member.
If you wish to discuss this action, participate in this lawsuit,
or have any questions or concerns regarding this notice, or
preservation of your rights, please contact:
Jack G. Fruchter Abraham, Fruchter & Twersky, LLP One Penn
Plaza, Suite 2805 New York, N.Y. 10119 Telephone: (212) 279-5050
e-mail: Email Contact Attorney Advertising. Prior Results Do Not
Guarantee A Similar Outcome.
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