NEW YORK--(BUSINESS WIRE)--The law firm Gardy & Notis, LLP announces that a securities fraud class action lawsuit has been filed in federal court in Philadelphia on behalf of investors who purchased StoneMor Partners L.P. (NYSE: STON) common units at any time during the class period of January 19, 2012 and October 27, 2016.
If you are an investor who purchased StoneMor units between January 19, 2012 and October 27, 2016, you have until January 20, 2017 to ask the Court to appoint you as Lead Plaintiff for the Class. If you have questions about the case or how to apply to be Lead Plaintiff please contact Mark C. Gardy at Gardy & Notis, LLP, 126 East 56th Street, 8th floor, New York, NY 10022, Telephone: 212-905-0509, email: mgardy@gardylaw.com.
The lawsuit alleges that the Company and certain of its current and former officers and directors committed securities fraud in violation of federal law (Sections 10(b) and 20(a) of the Securities Exchange Act) by making materially misleading misrepresentations and omissions (1) that StoneMor’s reported non-GAAP financial metrics were materially misleading and concealed the truth about the Company’s actual financial condition; and (2) the primary purpose of the StonMor’s debt and equity offerings were to pay distributions to unitholders rather than to pay down indebtedness under the Company’s revolving credit facility as publicly stated. StoneMor’s statements about its business, operations, and prospects, were false and misleading, baseless, and defrauded investors.
Any member of the proposed class can ask the Court to serve as Lead Plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed class.
Gardy & Notis, LLP specializes in large, complex litigation in the fields of securities, corporate governance, and mergers and acquisitions. The attorneys at Gardy & Notis, LLP have served as a plaintiffs’ lead counsel in some of the largest securities fraud class action recoveries.
Attorney Advertising. Past results do not guarantee future outcomes.