INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against Just Energy Group, Inc.
August 02 2019 - 8:00PM
Business Wire
The law firm of Kirby McInerney LLP announces that a class
action lawsuit has been filed in the U.S. District Court for the
Southern District of New York on behalf of those who acquired Just
Energy Group, Inc. (“Just Energy” or the “Company”) (NYSE: JE)
securities during the period from November 9, 2017 to July 23, 2019
(the “Class Period”). Investors have until September 30, 2019 to
apply to the Court to be appointed as lead plaintiff in the
lawsuit.
The lawsuit alleges that Just Energy failed to disclose that:
(i) the Company had experienced customer enrollment and nonpayment
issues; (ii) as a result, the Company was reasonably likely to
incur an impairment charge to its accounts receivable; and (iii) as
a result, the Company lacked adequate internal control over its
financial reporting.
On July 23, 2019, the Company disclosed that it had “identified
customer enrolment and non-payment issues, primarily in Texas, over
the past 12 months” and that, as a result, it expected an
impairment charge of CAD $45 to $50 million to its Texas
residential accounts receivable. On this news, the price of Just
Energy shares fell $0.66, or 15%, to close at $3.72 on July 23,
2019.
If you acquired Just Energy securities, have information, or
would like to learn more about these claims, please contact Thomas
W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at
investigations@kmllp.com, or by filling out this contact form, to
discuss your rights or interests with respect to these matters
without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm
concentrating in securities, antitrust, and whistleblower
litigation. The firm’s efforts on behalf of shareholders in
securities litigation have resulted in recoveries totaling billions
of dollars. Additional information about the firm can be found at
Kirby McInerney LLP’s website: www.kmllp.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: https://www.businesswire.com/news/home/20190802005503/en/
Kirby McInerney LLP Thomas W. Elrod, Esq., (212) 371-6600
investigations@kmllp.com www.kmllp.com
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