A lawsuit was filed on behalf of investors in Just Energy Group Inc. (NYSE: JE) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 08/14/2019 -- An investor, who purchased shares of Just Energy Group Inc. (NYSE: JE), filed a lawsuit alleged violations of Federal Securities Laws by Just Energy Group Inc.
Investors who purchased shares of Just Energy Group Inc. (NYSE: JE) have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
Mississauga, Canada based Just Energy Group Inc., through its subsidiaries, provides electricity and natural gas commodities in the United States, Canada, the United Kingdom, and internationally. On July 23, 2019, Just Energy disclosed that it had "identified customer enrollment and non-payment issues, primarily in Texas, over the past 12 months" and consequently expected an impairment charge of CAD $45 to $50 million to its Texas residential accounts receivable.
The plaintiff claims that between November 9, 2017 through July 23, 2019, the defendants made false and/or misleading statements and/or failed to disclose that Just Energy experienced customer enrollment and nonpayment issues, that Just Energy was reasonably likely to incur an impairment charge to its accounts receivable;, that Just Energy lacked adequate internal control over its financial reporting, and that as a result of the foregoing, defendants' positive statements about Just Energy's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Those who purchased shares of Just Energy Group Inc. (NYSE: JE) have certain options and should contact the Shareholders Foundation.
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