Nykredit Porteflje Administration A/S, et al. v. ProPetro Holding Corp., et al.

ProPetro Holding Corp. (PUMP) agreed to pay $30 million to settle a class action lawsuit to avoid further litigation.

All persons or entities who, (a) purchased or otherwise acquired ProPetro common stock on the open market during the period from March 17, 2017, to March 13, 2020, both dates inclusive, and were damaged thereby; or (b) purchased ProPetro common stock in or traceable to ProPetro’s Initial Public Offering on March 17, 2017.

The Complaint alleged that the Company and its Leaders failed to disclose to investors:

• that the Company’s executive officers were improperly reimbursed for certain expenses;

• that the Company had engaged in certain undisclosed transactions with related parties;

• that the Company lacked adequate disclosure controls and procedures;

• that the Company lacked effective internal control over financial reporting;