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Press release content from Globe Newswire. The AP news staff was not involved in its creation.

COVIA INVESTOR SHAREHOLDER ALERT: Covia Investors Who Have Suffered Losses Greater Than ...

December 16, 2020 GMT

PHILADELPHIA, Dec. 16, 2020 (GLOBE NEWSWIRE) -- Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of Covia Holdings Corporation (“Covia” or the “Company”) ( OTHER OTC: CVIAQ ) to determine whether the Company engaged in securities fraud or other unlawful business practices.

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INVESTORS WHO PURCHASED, OR OTHERWISE ACQUIRED, THE SECURITIES OF COVIA BETWEEN MARCH 15, 2016 AND JUNE 29, 2020, BOTH DATES INCLUSIVE (THE “CLASS PERIOD”), AND SUFFERED LOSSES GREATER THAN $250,000 ARE ENCOURAGED TO COMPLETE KEHOE LAW FIRM’S SECURITIES CLASS ACTION QUESTIONNAIRE OR CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, MYARNOFF@KEHOELAWFIRM.COM, SECURITIES@KEHOELAWFIRM.COM, TO DISCUSS THE  SECURITIES INVESTIGATION OR POTENTIAL LEGAL CLAIMS.

A class action lawsuit has been filed against Covia, f/k/a Fairmount Santrol Holdings Inc., in United States District Court, seeking to recover damages on behalf of Covia investors.

According to the class action complaint, the Covia Defendants made false and/or misleading statements and/or failed to disclose that (1) Covia’s proprietary “value-added” proppants were not necessarily more effective than ordinary sand; (2) Covia’s revenues, which were dependent on its proprietary “value-added” proppants, was based on misrepresentations; (3) when Covia insiders raised this issue, defendants did not take meaningful steps to rectify the issue; and (4) as a result, the Covia Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

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Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct.  Combined, the partners at Kehoe Law Firm have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.   

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