SAN DIEGO, Jan. 09, 2017 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in Pennsylvania on behalf of certain purchasers of units of StoneMor Partners L.P. (NYSE:STON) over alleged Securities Laws Violations by StoneMor Partners L.P..
Investors who purchased a significant amount of StoneMor Partners L.P. (NYSE:STON) units have certain options and for certain investors there are short and strict deadlines running. Deadline: January 20, 2017. NYSE:STON investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants StoneMor Partners L.P. and certain of its executive officers made false and/or misleading statements and/or failed to disclose that the Company's reported non-GAAP financial metrics were materially misleading and concealed the truth about the Company's actual financial condition, and that the primary purpose of the Company's regular debt and equity offerings was to pay distributions to unitholders rather than to pay down indebtedness under the Company's revolving credit facility as publicly stated.
The complaint further alleges that, as a result of the foregoing, StoneMor's statements about its business, operations and prospects were false and misleading and/or lacked a reasonable basis at all relevant times.
Those who purchased StoneMor Partners L.P. (NYSE:STON) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.