NEW ORLEANS, LA -- 09/06/08 --
Kahn Gauthier Swick, LLC ("KGS") announces
that a securities class action lawsuit was filed in the United States
District Court for the Western District of Oklahoma, on behalf of
purchasers of Quest Energy Partners LP ("Quest Energy") (NASDAQ: QELP)
units who bought between the date of the Company's initial public offering
on or about November 7, 2007 (the "IPO") and August 25, 2008 (the "Class
Period"). No class has yet been certified in this action.
If you would like to discuss your legal rights, you may e-mail or call KGS
Managing Partner Lewis Kahn, without obligation or cost to you, toll free
1-866-467-1400, ext. 100, via cell phone after hours at 504-301-7900, or by
email at lewis.kahn@kgscounsel.com.
Quest Energy and certain of its officers and a controlling entity are
charged with including, or allowing the inclusion of, materially false and
misleading statements in the Registration Statement and Prospectus issued
in connection with the Company's IPO, in violation of the Securities Act of
1933. In particular, despite raising $150 million in its IPO, Quest Energy
failed to properly disclose related party transactions between its former
CEO and an entity he controlled. On August 25, 2008 Quest Energy announced
the resignation of CEO Jerry Cash after the Oklahoma Department of
Securities' inquiry concerning, among other issues, questionable transfers
of Quest Energy funds to an entity Mr. Cash controlled. The Company
announced the creation of a special committee to conduct an internal
investigation. After these announcements, the price of Quest Energy shares
has fallen dramatically.
If you wish to serve as lead plaintiff in this class action lawsuit, you
must move the Court no later than 60 days from the notice of the filing of
the first lawsuit. Any member of the putative class may move the Court to
serve as lead plaintiff through counsel of their choice, or may choose to
do nothing and remain an absent class member. If you would like to discuss
your legal rights, you may e-mail or call KGS Managing Partner Lewis Kahn,
without obligation or cost to you, toll free 1-866-467-1400, ext. 100,
after hours via cell phone 504-301-7900, or by email at
lewis.kahn@kgscounsel.com. To learn more about KGS, you may visit
www.kgscounsel.com. KGS is a law firm focused on securities class action
litigation with offices in New Orleans and New York City.
KGS' lawyers have significant experience litigating complex securities
class actions. Among other cases, KGS has been appointed Lead or Co-Lead
Counsel in the following securities cases: In re: U.S. Auto Parts Networks,
Inc. Securities Litigation, C.D. Cal.; In re Optionable, Inc. Securities
Litigation, S.D.N.Y.; In re Xethanol Corporation Securities Litigation,
S.D.N.Y.; Pixelplus Co. Ltd., S.D.N.Y.; In re Witness Systems Inc.
Securities Litigation, N.D. Ga.; Whitney Information Network, M.D. Fla.;
Bodisen Biotech, Inc., S.D.N.Y.; Pegasus Wireless Corp., S.D. Fla.; In re
Xinhua Finance Media, Ltd. Securities Litigation, S.D.N.Y.; Terayon Comm.
Systems Inc., N.D. Cal.; Gaming Partners, D. Nev.; and In re BigBand
Networks, Inc. Securities Litigation, N.D. Cal.
SPECIAL NOTICE: KGS encourages you to carefully evaluate any firm you may
consider to represent your interests in the Quest Energy class action. The
Private Securities Litigation Reform Act ("PSLRA") permits Quest Energy
shareholders to choose counsel of their choice to prosecute this action.
Critical components of a law firm's ability to successfully prosecute this
action and obtain a strong recovery for you include the resources it will
dedicate to prosecution of the case, including the number of lawyers the
firm has available for the Quest Energy action in particular, AND
especially the quality of the firm's work. Interested shareholders are
encouraged to call for consultation and to request more information about
KGS. While KGS has not filed suit yet, the firm is currently conducting
its own investigation of Quest Energy and invites shareholders to evaluate
its complaint when choosing counsel.
Contact:
Lewis Kahn
Kahn Gauthier Swick, LLC
1-866-467-1400, ext. 100
Lewis.kahn@kgscounsel.com
