The Shareholders Foundation announces that an investigation on behalf of current long-term investors in shares of PowerSecure International, Inc. (NYSE:POWR) is ongoing concerning potential breaches of fiduciary duties by certain directors and officers of PowerSecure International.
Investors who purchased shares of PowerSecure International, Inc. (NYSE:POWR) prior to March 10, 2014, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm for current long term investors in NYSE:POWR stocks follows a lawsuit filed recently against PowerSecure International over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE:POWR stocks, concerns whether certain PowerSecure International officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Eastern District of North Carolina the plaintiff alleges 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” mShares 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 July 15,, 2014, NYSE:POWR shares closed at $8.71 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.
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