Lead Plaintiff Deadline: June 05, 2020
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Throughout the Class Period, Defendants executed a fraudulent scheme to artificially depress the price of publicly traded CVRR units in order to acquire them for a substantial discount, thereby enriching themselves at the expense of CVRR public unit holders:
(a) First, CVR Energy, Inc. (NYSE: CVI) guaranteed an offer to exchange its common stock for most – but not all – of CVRR’s outstanding common units. Following the acquisition of 84.5% the units, the price of the units began depressing because of the reduced public float and the threat of the remaining CVRR’s units being acquired, which more than offset CVRR’s favorable financial results.
(b) Second, as the price for CVRR units stagnated, and more than 90 days had passed since expiration of the CVI exchange offer, Defendants announced that they were “considering” exercising the right to acquire the remaining CVRR units, further causing the units to decline.
(c) Finally, once the price of CVRR units had substantially declined, Defendants seized upon the opportunity to acquire the rest of the units, enjoying a purchase price based on the (manipulated) 20-day trading average of CVRR units.
In order to be included in the lawsuit, you must have incurred a loss on shares of CVRR, either: A) purchased or acquired during the class period listed above, if applicable; or B) pursuant to the Initial Public Offering (IPO) of CVRR, if applicable.
If you suffered a loss in CVRR during the relevant time frame, or pursuant to CVRR’s IPO if listed above, you have until June 05, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.