Shareholder rights law firm Johnson & Weaver, LLP announces that a class
action lawsuit has been filed in the United States District Court for
the Eastern District of North Carolina on behalf of all purchasers of
the common stock of PowerSecure International, Inc. (NYSE: POWR).
PowerSecure International provides products and services to electric
utilities and to their commercial, institutional, and industrial
customers in the United States.
The Complaint alleges that defendants issued false and misleading
statements and failed to disclose that the Company was attempting to
shift resources within its utility infrastructure business. According to
the Complaint, the shifting of these resources was negatively impacting
the Company's operations and utility services performance. As a result,
the Complaint alleges, the Company was experiencing productivity losses
and higher costs wthin its utility services group, which were
negatively impacting the Company's gross margins.
On May 7, 2014, PowerSecure reported its financial results for the
fiscal first quarter of 2014. PowerSecure announced a loss per share of
($0.17) and disclosed that its gross profit margin had decreased to
20.9% for the quarter from 30.6% for the same quarter in 2013. Wall
Street analysts had estimated Company's earnings would be $0.02 per
share. On this news, shares in PowerSecure dropped more than 60% the
next trading day. The lawsuit seeks recovery on behalf of investors that
purchased PowerSecure common stock during a specified time period.
If you purchased PowerSecure common stock at anytime on or before May
7, 2014, you are encouraged to contact Jim Baker (firstname.lastname@example.org)
at 619-814-4471 to discuss your legal rights and remedies. If you
email, please include your phone number.
Johnson & Weaver, LLP is a nationally recognized shareholder rights law
firm with offices in California, New York, and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more information
about the firm and its attorneys, please visit http://www.johnsonandweaver.com.
Attorney advertising. Past results do not guarantee future outcomes.
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