San Diego, CA -- (ReleaseWire) -- 06/30/2014 -- A deadline is coming up on July 22, 2014 in the lawsuit filed for investors of PowerSecure International, Inc. (NYSE:POWR) over alleged securities laws violations by PowerSecure International
Investors who purchased shares of PowerSecure International, Inc. (NYSE:POWR) have certain options and there are strict and short deadlines running. Deadline: July 24, 2014. NYSE:POWR stockholders should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the Eastern District of North Carolina the plaintiff alleges on behalf of purchasers of PowerSecure International, Inc. (NYSE:POWR) common shares between March 10, 2014 through May 7, 2014, that the defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
The plaintiff claims that defendants made allegedly materially false and/or misleading statements by misrepresenting and failing to disclose certain adverse facts, including that PowerSecure International, Inc. lacked the experience and internal controls necessary to expand its distributed generation business into larger contracts.
On May 7, 2014, PowerSecure International, Inc. reported its first quarter 2014 results. Among other things, the chief executive officer of PowerSecure International, Inc. said that it "mis-timed actions to shift resources to more profitable customers, as revenues from those new customers were not adequate to sustain it margins”. Shares of PowerSecure International, Inc. (NYSE:POWR) declined from $20.50 per share on May 6, 2014 to $6.45 per share on May 12, 2014.
On June 27, 2014, NYSE:POWR shares closed at $9.58 per share.
Those who purchased shares of PowerSecure International, Inc. have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego