An investor in OTCMKTS:CBDEF shares filed a lawsuit over alleged violations of Federal Securities Laws by Bluenrgy Group Ltd, formerly CBD Energy Limited, in connection with certain allegedly false and misleading statements.
Investors who purchased a significant amount of shares of Bluenrgy Group Ltd, formerly CBD Energy Limited, (OTCMKTS:CBDEF) have certain options and for certain investors are short and strict deadlines running. Deadline: November 7, 2016. OTCMKTS:CBDEF investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff alleges on behalf of purchasers of Bluenrgy Group Ltd (OTCMKTS:CBDEF) common shares between June 13, 2014 and October 24, 2014, that the defendants violated Federal Securities Laws.
On October 24, 2014, Bluenrgy Group Ltd, formerly CBD Energy Ltd, announced that its previously issued audited financial statements for the fiscal years 2012 and 2013 and interim financial statements for the six months ended December 31, 2013 cannot be relied upon by investors. According to Bluenrgy Group Ltd, certain related-party transactions involving its Executive Chairman and Managing Director, Mr. McGowan, were not accurately disclosed in its financial statements. Bluenrgy Group Ltd said that its the Audit Committee determined that the interim financial statements as of and for the six months ended December 31, 2013 should no longer be relied on because of uncertainty about any expectation of realizing full (or any) value of a deposit of approximately $680,000 made in December, about the adequacy of disclosures regarding goodwill and the possibility of recognizing an impairment, about the capitalization of certain payments related to the costs of issuing retail bonds in the United Kingdom, and about classification of certain expenses
Those who purchased OTCMKTS:CBDEF shares 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