A lawsuit was filed on behalf of investors in Pattern Energy Group Inc (NASDAQ:PEGI) shares over alleged securities laws violations and NASDAQ:PEGI investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/14/2016 -- An investor, who purchased shares of Pattern Energy Group Inc (NASDAQ:PEGI), filed a lawsuit in California over alleged Securities Laws violations by Pattern Energy Group Inc.
Investors who purchased shares of Pattern Energy Group Inc (NASDAQ:PEGI) have certain options and for certain investors are short and strict deadlines running. Deadline: January 10, 2017. NASDAQ:PEGI investors should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The plaintiff claims that between May 9, 2016 and November 4, 2016, the Defendants made false and/or misleading statements and/or failed to disclose that Pattern's operations were deficient with respect to various transaction, process level, and monitoring controls, that as a result, Pattern lacked effective internal financial controls, and that as a result of the foregoing, Pattern's public statements were materially false and misleading at all relevant times.
On November 7, 2016, Pattern Energy Group Inc announced its financial and operating results for the third quarter of 2016 and disclosed a material weakness in internal control over financial reporting.
Pattern Energy Group Inc stated that, as of September 30, 2016, its internal control "was not effective due to the aggregation of internal control deficiencies related to the implementation, design, maintenance and operating effectiveness of various transaction, process level, and monitoring controls." Shares of Pattern Energy Group Inc (NASDAQ:PEGI) declined to as low as $18.70 per share on November 10, 2016.
Those who purchased shares of Pattern Energy Group Inc have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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