LOS ANGELES--(BUSINESS WIRE)--Goldberg Law PC, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against StoneMor Partners L.P. (“StoneMor” or the “Company”) (NYSE: STON). Investors who purchased or otherwise acquired StoneMor shares between January 19, 2012 and October 27, 2016 inclusive (the “Class Period”), are encouraged to contact the firm in advance of the January 20, 2017 lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate. In addition, we encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also reach us through the firm’s website at http://www.Goldberglawpc.com, or by email at firstname.lastname@example.org.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The complaint alleges that during the Class Period, StoneMor made false and misleading statements and/or failed to disclose: that the Company’s reported non-GAAP financial metrics were materially misleading and concealed the truth about the Company’s real financial condition; and that the main purpose of StoneMor’s regular 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; and that as a result of the above, the Company’s statements about its business, operations, and prospects, were false and misleading and/or lacked a reasonable basis at all relevant times. On September 2, 2016, the Company announced that it would restate its financials to correct various errors. On October 27, 2016, StoneMor cut its distribution by half. On November 9, 2016, the Company announced that it needed to “amend its Form 10-K for [the] fiscal year ended December 31, 2015, and its Forms 10-Q for the quarterly periods ended June 30, 2016 and March 31, 2016.” When this news was announced, shares of StoneMor fell in value causing investors harm.
Goldberg Law PC represents shareholders around the world and specializes in securities class actions and shareholder rights litigation.
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