Investigation Overview
An investigation on behalf of investors of CVR Refining, LP (NYSE: CVRR) shares over potential securities laws violations by CVR Refining, LP and certain of its directors and officers in connection with certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of CVR Refining, LP (NYSE: CVRR) concerning whether a series of statements by CVR Refining, LP regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Sugar Land, TX based CVR Refining, LP operates as an independent petroleum refiner and marketer of transportation fuels in the United States. CVR Refining, LP reported that its annual Total Revenue rose from over $4.43 billion in 2016 to over $5.66 billion in 2017 and that its Net Income increased from $15.30 million in 2016 to $88.80 million in 2017.
Shares of CVR Refining, LP (NYSE: CVRR) declined from $25.75 per share in June 2018 to as low as $8.30 per share in December 2018.