An investigation on behalf of current long term stockholders of NASDAQ:LIME shares over potential breaches of fiduciary duties at Lime Energy Co. was announced and current long-term NASDAQ:LIME stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com

San Diego, CA -- (SBWire) -- 01/15/2013 --An investigation on behalf of current long-term investors in shares of Lime Energy Co. (NASDAQ:LIME) was announced concerning whether certain officers and directors at Lime Energy Co. breached their fiduciary duties in connection with certain financial statements.

Investors who are current long term stockholders in shares of Lime Energy Co. (NASDAQ:LIME), including but not limited to those who purchased their NASDAQ:LIME shares prior to January 2011, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm conversation whether certain officers and directors of Lime Energy Co. breached their fiduciary duties to shareholders by permitting and failing to correct insufficient controls and improper procedures that led to the disclosure of false and/or misleading statements.

Lime Energy Co. (NASDAQ:LIME) reported that its annual Revenue rose from $95.72 million in 2010 to $120.08 million in 2011 while its Net Loss increased from $5.24 million in 2010 to $11.58 million in 2011.

Shares of Lime Energy Co. (NASDAQ:LIME) declined from as high as $7.24 per share in September 2009 to as low as $0.49 per share in December 2012.

On January 11, 2012, NASDAQ:LIME shares closed at $0.76 per share.

On July 17, 2012, Lime Energy Co. announced that an internal investigation revealed that revenue had been improperly recorded. As a result, Lime Energy Co. announced that it expected to restate its financial statements for the years 2010, 2011, and for the quarterly period ended March 31, 2012.

Shares of Lime Energy Co. (NASDAQ:LIME) declined from $2.15 per share on July 13, 2012 to $0.91 per share on July 20, 2012.

Then on December 27, 2012, Lime Energy Co. announced that the Audit Committee of the board of directors of the company determined that the company's consolidated financial statements on Form 10-K for the years ended December 31, 2008 and 2009 were also unreliable, and thus also have to be restated.

On January 14, 2013, NASDAQ:LIME shares closed at $0.769 per share, which is significantly below its current 52 week High of $3.58 per share.

Those who are current long term investors in shares of Lime Energy Co. (NASDAQ:LIME), including but not limited to those who purchased their NASDAQ:LIME shares prior to January 2011, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com