An investigation on behalf of investors of ProPetro Holding Corp. (NYSE: PUMP) shares over potential securities laws violations by ProPetro Holding Corp. 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 ProPetro Holding Corp. (NYSE: PUMP) concerning whether a series of statements by ProPetro Holding Corp. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Midland, TX based ProPetro Holding Corp., an oilfield services company, provides pressure pumping and other related services. ProPetro Holding Corp. reported that its annual Total Revenue rose from $981.86 million in 2017 to over $1.7 billion in 2018 and that its Net Income increased from $12.61 million in 2017 to $173.86 million in 2018.
On August 8, 2019, ProPetro Holding Corp announced that it is delaying its second quarter earnings conference call and quarterly report, citing an ongoing review by its audit committee. Among other things, the review concerned related party transactions, potential conflicts of interest, and expense reimbursements.

Shares of ProPetro Holding Corp. (NYSE: PUMP) declined from $21.83 per share in early July 2019 to as low as $10.19 per share on August 23, 2019.