Robins Ueda files securities frud class action lawsut against Hi-Crush Partners Shareholder rights firm Robbins Umeda announces that a complaint has been filed in the U.S. District Court for the Southern District of New York on behalf of investors of Hi-Crush Partners. The complaint alleges violations of the Securities Act of 1933 against the company and certain of its officers and directors concerning Hi-Crush's August 16, IPO.
Hi-Crush Partners downgraded to Neutral at BofA/Merrill BofA/Merrill downgraded Hi-Crush Partners to Neutral from Buy. The firm is forecasting frac sand demand to decline 25%-30% in 2015, resulting in reduced sales volume outlook for the company. BofA/Merrill lowered its price target to $35 from $45.