NEW YORK, Aug. 27, 2008 (GLOBE NEWSWIRE) -- Attorney Advertising. The Rosen Law Firm announces that it is investigating potential civil securities claims against Quest Energy Partners L.P. (Nasdaq:QELP); Quest Resource Corporation (Nasdaq:QRCP); and Quest Midstream Partners L.P. (collectively "Quest" or the "Company") concerning allegations that Quest issued materially false and/or incomplete public statements by virtue of Jerry Cash's (the Company's former CEO) questionable transfers of Company funds to an entity controlled by him.
On August 25, 2008, Quest announced that it had discovered questionable transfers of company funds, totaling at least $10 million, to an entity controlled by Mr. Cash. Following the discovery of these transfers, Mr. Cash resigned as the Chairman and CEO of the three Quest entities. Quest also disclosed that the Oklahoma Department of Securities is conducting an inquiry into these payments and that the Company has constituted a Special Committee to investigate the matter. Consequently, the stock price of Quest Energy Partners L.P. (Nasdaq:QELP) and Quest Resource Corporation (Nasdaq:QRCP) fell sharply on extraordinary volume.
As a result of these adverse disclosures, the Rosen Law Firm is investigating potential claims against Quest for violation of federal and state securities laws and is preparing a class action complaint.
If you purchased Quest stock, partnership interests, or other securities during the last four years, and would like further information concerning your legal rights, please contact Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com.
You may access the website at http://www.rosenlegal.com to contact the Rosen Law Firm for additional information.
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