Covia Holdings Corporation

Company NameCovia Holdings Corporation
Stock SymbolCVIAQ
Class PeriodMarch 15, 2016 to June 29, 2020
Motion DeadlineFebruary 8, 2021

The Thornton Law Firm announces that a class action lawsuit has been filed on behalf of investors of Covia Holdings Corporation f/k/a Fairmount Santrol Holdings Inc. (OTC: CVIAQ). Investors who purchased Covia stock or other securities between March 15, 2016 and June 29, 2020 may contact the Thornton Law Firm to obtain a copy of the complaint or to discuss the lead plaintiff process. Interested investors are encouraged to submit their information above. Investors may email or call 617-531-3917. Interested Covia investors have until February 8, 2021 to apply to be a lead plaintiff.

The case alleges that Covia’s executives made misleading statements to investors and failed to disclose that: (1) the Company’s proprietary ‘value-added’ proppants were not necessarily more effective than ordinary sand; and (2) the Company’s revenues, which were dependent on its proprietary ‘value-added’ proppants, were based on misrepresentations. It is alleged that when Company insiders raised this issue, the Defendants did not take meaningful steps to rectify the issue. When the public was made aware of the truth, Covia’s share price dropped, thereby damaging investors.

The lawsuit alleges violations of the federal securities laws. The Private Securities Litigation Reform Act of 1995 allows any investor who purchased the securities at issue in the case during the Class Period to seek appointment as a lead plaintiff in the lawsuit. A lead plaintiff acts on behalf of all other investor class members in managing the class action and can select a law firm of their choice to litigate the lawsuit. Serving as a lead plaintiff does not impact an investor’s share in any potential recovery. Investors do not need to be a lead plaintiff to be a member of the class. If investors choose to take no action, they can remain an absent class member. Interested Covia investors have until February 8, 2021 to apply to be a lead plaintiff. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney.

Thornton Law Firm’s securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

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