An investor in NASDAQ:PEGI shares filed a lawsuit against Pattern Energy Group Inc over alleged violations of Federal Securities Laws.
Investors who purchased shares of Pattern Energy Group Inc (NASDAQ:PEGI) have certain options and for certain investors are short and strict deadlines running. Deadline: January 10, 2017. NASDAQ:PEGI 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 Pattern Energy Group Inc (NASDAQ:PEGI) common shares between May 9, 2016 and November 4, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 9, 2016 and November 4, 2016, the Defendants made false and/or misleading statements and/or failed to disclose that Pattern’s operations were deficient with respect to various transaction, process level, and monitoring controls, that as a result, Pattern lacked effective internal financial controls, and that as a result of the foregoing, Pattern’s public statements were materially false and misleading at all relevant times.
On November 7, 2016, Pattern Energy Group Inc announced its financial and operating results for the third quarter of 2016 and disclosed a material weakness in internal control over financial reporting.
Pattern Energy Group Inc stated that, as of September 30, 2016, its internal control “was not effective due to the aggregation of internal control deficiencies related to the implementation, design, maintenance and operating effectiveness of various transaction, process level, and monitoring controls.”
Shares of Pattern Energy Group Inc (NASDAQ:PEGI) declined to as low as $18.70 per share on November 10, 2016.
Those who purchased NASDAQ:PEGI 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