Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Sun Communities, Inc. (SUI)

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming February 10, 2025 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Sun Communities, Inc. (“Sun Communities” or the “Company”) (NYSE: SUI) securities between February 28, 2019 and September 24, 2024, inclusive (the “Class Period”).

If you suffered a loss on your Sun Communities investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/Sun-Communities-Inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [e-mail] to learn more about your rights.

On September 24, 2024, after market hours, Blue Orca Capital published a report alleging, among other things, that Sun Communities’ CEO “received an undisclosed $4 million loan from the family of a purportedly independent Director who has sat on the Audit Committee and chaired the Compensation Committee for close to a decade.”

On this news, Sun Communities’ stock price fell $1.62, or 1.2%, to close at $137.48 per share on September 25, 2024, thereby injuring investors.

The complaint filed in this class action 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 failed to disclose to investors: (1) Board members’ insider trading, loans taken on behalf of Sun Communities by CEO Shiffman, and the mortgage signed by CEO Shiffman on behalf of an entity called DH Bingham Farms LLC; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased or otherwise acquired Sun Communities securities during the Class Period, you may move the Court no later than February 10, 2025 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action 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 action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [e-mail], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

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