Shareholders Foundation, Inc.

PowerSecure International, Inc. (NYSE:POWR) Investor Alert: Lawsuit over Alleged Securities Laws Violations Filed

A lawsuit was filed on behalf of investors in PowerSecure International, Inc. (NYSE:POWR) shares over alleged securities laws violations. Deadline: July 22, 2014. NYSE:POWR investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com

 

San Diego, CA -- (ReleaseWire) -- 05/27/2014 -- An investor, who purchased shares of PowerSecure International, Inc. (NYSE:POWR), filed a lawsuit in the U.S. District Court for the Eastern District of North Carolina over alleged violations of Federal Securities Laws by PowerSecure International, Inc. in connection with certain allegedly false and misleading statements made between March 10, 2014 through May 7, 2014.

Investors who purchased shares of PowerSecure International, Inc. (NYSE:POWR)have certain options and for certain investors are short and strict deadlines running. Deadline: July 22, 2014. NYSE:POWR investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint 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.

PowerSecure International, Inc. reported that its annual Total Revenue rose from $162.04 million in 2012 to $270.23 million in 2013 and that its respective Net income increased from $3.08 million to $4.41 million. Shares of PowerSecure International, Inc. (NYSE:POWR) grew from $4.43 per share in August 2012 to as high as $25.28 per share in March 2014.

Then 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 May 23, 2014, NYSE:POWR shares closed at $8.21 per share.

Those who purchased shares of PowerSecure International, Inc. (NYSE:POWR) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com