GlobeNewswire Inc | Dec 16, 2020 03:46PM EST

December 16, 2020

PHILADELPHIA, Dec. 16, 2020 (GLOBE NEWSWIRE) -- Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of Covia Holdings Corporation (Covia or the Company) (OTHER OTC: CVIAQ) to determine whether the Company engaged in securities fraud or other unlawful business practices.

INVESTORS WHO PURCHASED, OR OTHERWISE ACQUIRED, THE SECURITIES OF COVIA BETWEEN MARCH 15, 2016 AND JUNE 29, 2020, BOTH DATES INCLUSIVE (THE CLASS PERIOD), AND SUFFERED LOSSES GREATER THAN $250,000 ARE ENCOURAGED TO COMPLETE KEHOE LAW FIRMS SECURITIES CLASS ACTION QUESTIONNAIRE OR CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, MYARNOFF@KEHOELAWFIRM.COM, SECURITIES@KEHOELAWFIRM.COM, TO DISCUSS THESECURITIES INVESTIGATION OR POTENTIAL LEGAL CLAIMS.

A class action lawsuit has been filed against Covia, f/k/a Fairmount Santrol Holdings Inc., in United States District Court, seeking to recover damages on behalf of Covia investors.

According to the class action complaint, the Covia Defendants made false and/or misleading statements and/or failed to disclose that (1) Covia's proprietary "value-added" proppants were not necessarily more effective than ordinary sand; (2) Covia's revenues, which were dependent on its proprietary "value-added" proppants, was based on misrepresentations; (3) when Covia insiders raised this issue, defendants did not take meaningful steps to rectify the issue; and (4) as a result, the Covia Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiffside law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.

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