The Shareholders Foundation announces that an investor who holds shares of PowerSecure International, Inc. (NYSE:POWR) filed a lawsuit against certain directors of PowerSecure International over alleged breaches of fiduciary duties.
Investors who are current long term investors in PowerSecure International, Inc. (NYSE:POWR) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff claims that after PowerSecure International’s alleged misrepresentations were revealed, shares of PowerSecure International, Inc. (NYSE:POWR) declined within a day from $18.60 per share to $7 per share.
PowerSecure International, Inc. currently faces also a lawsuit over alleged securities laws violations. The plaintiff in that lawsuit 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.
Those who purchased shares of PowerSecure International, Inc. (NYSE:POWR) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com