The Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Pattern Energy Group Inc. Investors and Encourages Investors to Contact the Firm

BENSALEM, Pa.--()--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Pattern Energy Group Inc. (“Pattern” or the “Company”) (NASDAQ: PEGI) securities between May 9, 2016 and November 4, 2016, inclusive (the “Class Period”). Pattern investors have until January 10, 2017 to file a lead plaintiff motion.

Investors suffering losses on their Pattern investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

The Complaint filed in this class action lawsuit alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Pattern’s operations were deficient with respect to various transaction, process level, and monitoring controls; (ii) as a result, Pattern lacked effective internal financial controls; and (iii) as a result of the foregoing, Pattern’s public statements were materially false and misleading at all relevant times.

On November 7, 2016, Pattern disclosed that it had a material weakness in its internal controls over financial reporting. According to the Company, internal controls were ineffective primarily because of “deficiencies related to the implementation, design, maintenance, and operating effectiveness of various transaction, process level, and monitoring controls.”

On this news, shares of Pattern fell over 3.5% to close at $20.86 per share on November 7, 2016. The Company’s stock price then fell another 9% on November 9, 2016, to close at just $19.05 per share, thereby injuring investors.

If you purchased shares of Pattern during the Class Period you may move the Court no later than January 10, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com

Release Summary

The Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Pattern Energy Group Inc. Investors and Encourages Investors to Contact the Firm

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Contacts

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com