NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 20, 2017 to file lead plaintiff applications in a securities class action lawsuit against StoneMor Partners L.P. (NYSE: STON), if they purchased the Company’s securities between January 19, 2012 and October 27, 2016, inclusive (the “Class Period”). This action is pending in the United States District Court for the Eastern District of Pennsylvania.
What You May Do
If you purchased shares of StoneMor and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 20, 2017.
About the Lawsuit
StoneMor and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On September 2, 2016, StoneMor disclosed that it intended to restate its consolidated financial statements “to correct certain accounting errors.” Then, on October 27, 2016, StoneMor announced a quarterly cash distribution of only $0.33 per common unit – a 50% reduction from the prior quarter's cash distribution.
On this news, the price of StoneMor’s stock plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.