LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Covia Holdings Corporation (“Covia” or “the Company”) (OTC: CVIAQ) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between March 15, 2016 and June 29, 2020, inclusive (the ”Class Period”), are encouraged to contact the firm before February 8, 2021.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Covia touted its “value-added” proprietary proppants that failed to be any more effective than ordinary sand. The Company’s revenues were dependent on its proprietary proppant, which it misrepresented to the market. When Company insiders raised issues with the proppants, it did not take action to rectify the situation. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Covia, investors suffered damages.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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