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Quest Energy Partners LP QELP Securities Stock Fraud

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Company: Quest Energy Partners LP
Ticker Symbol: QELP
Class Period: Nov-7-07 to Aug-25-08
Date Filed: Sep-8-08
Lead Plaintiff Deadline: Nov-7-08
Court: Western District of Oklahoma
Allegations:
A class action lawsuit on behalf of all purchasers of Quest Energy Partners LP common units from the date of the Company's initial public offering on or about November 7, 2007 (the "IPO") through August 25, 2008 (the "Class Period"). The case is pending in the United States District Court for the Western District of Oklahoma. No class has yet been certified in the above action.

The complaint charges Quest Energy and certain former and present officers, and controlling entities, including Quest Resource Corporation ("Quest Resource") with violations of Sections 11 and/or 15 of the Securities Act of 1933 by virtue of Quest Energy's issuance of a materially inaccurate Registration Statement and Prospectus (the "Registration Statement") in connection with Quest Energy's IPO.

According to the Complaint, on November 7, 2007 Quest Energy commenced its IPO raising over $150 million from investors. The Complaint asserts that Quest Energy's Registration Statement was materially inaccurate because Quest Energy failed to properly disclose related party transactions between its former CEO and an entity controlled by him. The Complaint also asserts claims against Quest Resource as it was the controlling entity of Quest Energy and is liable under Section 15 of the Securities Act.

On August 25, 2008 Quest Energy announced that its former CEO Jerry Cash had resigned following an inquiry by the Oklahoma Department of Securities in connection with questionable transfers of, among other things, Quest Energy funds to an entity controlled by Mr. Cash. Quest Energy also announced that it had constituted a special committee to conduct an internal investigation. As a result of these adverse disclosures, the price of Quest Energy shares dropped damaging investors.

If you wish to serve as lead plaintiff, you must move the Court no later than sixty days from the date of this announcement

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

Quest Energy Partners LP QELP Securities Fraud Legal Help

If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible Quest Energy Partners LP securities class action lawsuit. Please fill in our form on the right to submit your complaint for a free evaluation.

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