HOUSTON, Dec. 15, 2020 /PRNewswire/ -- RigNet, Inc. (NASDAQ: RNET) today announced the extension of its contract with ProPetro Services, Inc. ("ProPetro") a subsidiary of ProPetro Holding Corp. (NYSE: PUMP), a leading provider of hydraulic fracturing services in North America. Throughout 2021, ProPetro will leverage Intelie Live, RigNet's ultra-secure, intelligent networking solutions for upstream oil and gas operations. Intelie Live provides a powerful machine learning based analytics platform and will continue to augment ProPetro's highly efficient hydraulic fracturing operations.

Intelie Live has enabled operational efficiencies at ProPetro by reducing costly downtime, identifying anomalies, and optimizing predictive maintenance for capital equipment. With the ability to analyze the overall performance of heavy machinery in real-time, Intelie Live plays an integral role in unlocking efficiencies at the wellhead.

"We have been using Intelie for more than a year and are very impressed with the results. It's been a valuable tool in enhancing the services we deliver to our customers," said Adam Muñoz, Senior Vice President of Operations," This Artificial Intelligence-based solution, along with RigNet's secure managed communications services, has helped ProPetro strategically enhance equipment monitoring capabilities."

Ricardo Clemente, Vice President of Business Development for Oil and Gas for RigNet and Co- founder of Intelie, commented, "We are very excited that ProPetro has extended their commitment to use Intelie's suite of solutions to enhance their operations. As we expand our reach to other customers in the industry, this is a true testament to the value Intelie brings to our clients. By stacking Intelie Live for frac operations with our secure communications, our industry-leading machine learning analytics continues to deliver results that boosts both the top and bottom line."

Learn more at www.intelie.com/live/  and www.rig.net/intelie 

About ProPetro

ProPetro Holding Corp. is a Midland, Texas-based oilfield services company providing pressure pumping and other complementary services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. For more information, please visit www.propetroservices.com

About RigNet

RigNet (NASDAQ: RNET) delivers advanced software, optimized industry solutions, and communications infrastructure that allow our customers to realize the business benefits of digital transformation. With world-class, ultra-secure solutions spanning global IP connectivity, bandwidth-optimized OTT applications, IIoT big data enablement, and industry-leading machine learning analytics, RigNet supports the full evolution of digital

enablement, empowering businesses to respond faster to high priority issues, mitigate the risk of operational disruption, and maximize their overall financial performance. RigNet is headquartered in Houston, Texas with operations around the world.

Forward Looking Statements

This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995 – that is, statements related to the future, not past, events. Forward-looking statements are based on the current expectations and include any statement that does not directly relate to a current or historical fact. Our ability to deliver services, improve crew morale, provide data security and detect threats, and enable our customer's efficiency and financial results are examples of forward-looking statements and contain words such as "anticipate," "believe," "intend,", "will", "expect," "plan" or other similar words. These forward-looking statements involve certain risks and uncertainties, including those risks set forth in Item 1A – Risk Factors of the Company's most recent 10-K filing, and ultimately may not prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. For further discussion of risks and uncertainties, individuals should refer to RigNet's SEC filings. RigNet undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.

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SOURCE RigNet, Inc.

SAN FRANCISCO, Oct. 11, 2019 /PRNewswire/ -- Hagens Berman updates ProPetro Holding Corp. (NYSE: PUMP) investors concerning recently-announced senior management changes and urges PUMP investors who have suffered losses in excess of $50,000 to submit a loss form now to learn if they qualify to recover their investment losses.

PUMP Securities Class Action:

According to the Complaint, Defendants misled investors about ProPetro's expense reimbursements to senior executives, transactions involving related parties or potential conflicts of interests, and the adequacy of the Company's internal controls over financial reporting. On August 8, 2019, the market learned the truth when Defendants announced the Company would be unable to timely file its quarterly report for the quarter ended June 30, 2019, citing an ongoing internal review of the expense reimbursements and related party transactions. In response, the price of PUMP shares crashed over 26% the next day.

On October 9, 2019, PUMP announced it replaced Dale Redman and Jeffrey Smith in their capacities as PUMP's principal executive and financial officers, respectively. As such, they will no longer be responsible for certifying PUMP's financial statements.

If you invested in ProPetro Holding Corp. between Mar. 17, 2017 and Aug. 8, 2019 and suffered significant losses (in excess of $50,000) you may qualify to be a lead plaintiff – one who selects and oversees the attorneys prosecuting the case. Contact Hagens Berman immediately to obtain additional information about this case or being a lead plaintiff.

"We are focused on investors' losses and the extent to which management may have misled investors about the Company's internal controls and previously-issued financial statements," said Hagens Berman partner Reed Kathrein.

If you purchased shares of ProPetro and suffered significant losses, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding ProPetro should consider their options to help in the investigation or take advantage of the SEC whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email PUMP@hbsslaw.com.

About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:
Reed Kathrein, 510-725-3000

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SOURCE Hagens Berman Sobol Shapiro LLP

NEW YORK, Sept. 19, 2019 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of ProPetro Holding Corp. (NYSE: PUMP) pursuant and/or traceable to the registration statement and prospectus (collectively, the "Registration Statement") issued in connection with the Company's March 2017 initial public offering ("IPO or the "Offering"); and/or between March 17, 2017 and August 8, 2019, inclusive (the "Class Period"). The lawsuit seeks to recover damages for ProPetro investors under the federal securities laws.

To join the ProPetro class action, go to http://www.rosenlegal.com/cases-register-1680.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR'S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company's executive officers were improperly reimbursed for certain expenses; (2) the Company had engaged in certain undisclosed transactions with related parties; (3) the Company lacked adequate disclosure controls and procedures; (4) the Company lacked effective internal control over financial reporting; and (5) as a result, ProPetrol's public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 15, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1680.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or cases@rosenlegal.com.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.   Rosen Law Firm has secured hundreds of millions of dollars for investors. 

Contact Information:

      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 34^th Floor
      New York, NY 10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      lrosen@rosenlegal.com
      pkim@rosenlegal.com
      cases@rosenlegal.com
      www.rosenlegal.com

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SOURCE Rosen Law Firm, P.A.

NEW ORLEANS, Sept. 18, 2019 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until November 15, 2019 to file lead plaintiff applications in a securities class action lawsuit against ProPetro Holding Corp. (NYSE: PUMP), if they purchased the Company's securities issued in connection with its March 2017 initial public offering or between March 17, 2017 and August 8, 2019, inclusive (the "Class Period").  This action is pending in the United States District Court for the Western District of Texas.

What You May Do

If you purchased securities of ProPetro and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-pump/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by November 15, 2019.

About the Lawsuit

ProPetro and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. 

On August 8, 2019, post-market, the Company disclosed a delay to its Q2 report pending a review by its audit committee involving approximately $370,000 of improper reimbursements to senior management and other related-party or potentially conflicted transactions, and that it expected to report a material weakness in its internal control over disclosure.

On this news, the price of ProPetro's shares plummeted over  26%.

The case is Logan v. ProPetro Holding Corp., 7:19-cv-00217.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.

To learn more about KSF, you may visit www.ksfcounsel.com.

Contact:

Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163

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SOURCE Kahn Swick & Foti, LLC