Specifically, the complaint alleges that the Registration Statement highlighted Baker Hughes Incorporated (“Baker Hughes”) as one of Hi-Crush’s two largest customers and emphasized that it was obligated to purchase sand from Hi-Crush pursuant to a May 2012 “take-or-pay contract” that “require[d]” Baker Hughes “to pay a specified price for a specified volume of frac sand each month.” According to the complaint though, on November 13, 2012, Hi-Crush was forced to disclose that Baker Hughes had unilaterally repudiated that supply contract, stating Hi-Crush was in breach. On this disclosure, Hi-Crush’s stock price fell $5 per share, or 25%, on extremely high trading volume of more than 3.3 million shares trading.The complaint alleges that the Registration Statement issued in connection with the IPO was false and misleading and/or failed to disclose the following adverse facts: (a) after executing the original supply contract with Hi-Crush in October 2011, beginning in February 2012, Baker Hughes began expressing an unwillingness to comply with that contract; (b) six months prior to the IPO, Baker Hughes had demanded significant volume and other concessions resulting in the execution of an amended supply contract; (c) according to Baker Hughes, Hi-Crush had, or was, violating confidentiality provisions in the supply contract; and (d) as a result, Baker Hughes would repudiate all of its financial obligations under the supply contract, materially decreasing Hi-Crush’s revenues and profits attributable to that important supply contract. Plaintiff seeks to recover damages on behalf of all purchasers of Hi-Crush common stock pursuant and/or traceable to the Registration Statement issued in connection with the IPO (the “Class”). The plaintiff is represented by Robbins Geller, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud. Robbins Geller represents U.S. and international institutional investors in contingency-based securities and corporate litigation. With nearly 200 lawyers in nine offices, the firm represents hundreds of public and multi-employer pension funds with combined assets under management in excess of $2 trillion. The firm has obtained many of the largest recoveries and has been ranked number one in the number of shareholder class action recoveries in MSCI’s Top SCAS 50 every year since 2003. According to Cornerstone Research, the firm’s recoveries have averaged 35% above the median for all firms over the past seven years (2005-2011). Please visit http://www.rgrdlaw.com for more information.