DEADLINE ALERT: Brower Piven Reminds Investors Of The January 20, 2017 Deadline In Class Action Lawsuit And Encourages Invest...
January 10 2017 - 10:10PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has
been commenced in the United States District Court for the Eastern
District of Pennsylvania on behalf of purchasers of StoneMor
Partners L.P. (NYSE: STON) (“StoneMor” or the “Company”) common
units during the period between January 19, 2012 and October 27,
2016, inclusive (the “Class Period”). Investors who wish to become
proactively involved in the litigation have until January 20, 2017
to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff and be selected by
the Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from
investment in StoneMor common units during the Class Period.
Members of the Class will be represented by the lead plaintiff and
counsel chosen by the lead plaintiff. No class has yet been
certified in the above action.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants’
failure to disclose during the Class Period that the Company’s
reported non-Generally Accepted Accounting Principles financial
metrics were materially misleading and concealed the truth about
the Company’s actual financial condition, and that the primary
purpose of the Company’s regular debt and equity offerings were to
pay distributions to unitholders rather than to pay down
indebtedness under the Company’s revolving credit facility as
publicly stated.
According to the complaint, following an October 27, 2016 press
release announcing a quarterly cash distribution for the third
quarter that was a 50% reduction over the previous quarter, the
value of StoneMor shares declined significantly.
If you have suffered a loss in excess of $100,000 from
investment in StoneMor common units purchased on or after January
19, 2012 and held through the revelation of negative information
during and/or at the end of the Class Period and would like to
learn more about this lawsuit and your ability to participate as a
lead plaintiff, without cost or obligation to you, please visit our
website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. Brower Piven also encourages anyone with information
regarding the Company’s conduct during the period in question to
contact the firm, including whistleblowers, former employees,
shareholders and others.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s. If you
choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time to be
a member of the class.
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version on businesswire.com: http://www.businesswire.com/news/home/20170110006234/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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