Fracking Company to Face Investors’ Claims of Misleading Info

Investors’ claims that a fracking company misled them by leaving essential information about the industry’s declining prices out of its SEC filings may proceed, the District of Colorado said.

Investor Cipriano Correa said Liberty Oilfield Services Inc.'s registration didn’t explain that a surplus in fracking capacity was lowering prices for the company’s services. The plaintiff appropriately backed his claim against the company, the U.S. District Court for the District of Colorado said Monday.

“Analyzing the various statements in the registration statement in context, as the law requires, I conclude that the omissions on industry oversupply and its impact on pricing ...