Accesswire 13-Jan-2017 8:57 PM
IRVINE, CA / ACCESSWIRE / January 13, 2017 / Khang & Khang LLP (the "Firm") announces the filing of a class action lawsuit against StoneMor Partners L.P. ("StoneMor" or the "Company") (NYSE: STON). Investors who purchased or otherwise acquired StoneMor shares between January 19, 2012 and October 27, 2016 inclusive (the "Class Period"), are encouraged to contact the firm prior to the January 20, 2017 lead plaintiff motion deadline.
If you purchased StoneMor shares during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or via e-mail at firstname.lastname@example.org.
There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
According to the complaint, during the Class Period StoneMor made false and 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 true financial condition; that the main purpose of StoneMor's regular debt and equity offerings were to pay distributions to unitholders instead of pay down indebtedness under the Company's revolving credit facility as publicly stated; and that as a result of the above stated, the Company's statements about its business, operations, and prospects were false and misleading and/or lacked a reasonable basis at all relevant times. On September 2, 2016, the Company announced that it would restate its financials to correct various errors. On October 27, 2016, StoneMor cut its distribution by half. On November 9, 2016, the Company announced that it needed to "amend its Form 10-K for [the] fiscal year ended December 31, 2015, and its Forms 10-Q for the quarterly periods ended June 30, 2016 and March 31, 2016." When this news was released to the public, shares of StoneMor fell in value, causing investors harm.
If you wish to learn more about this lawsuit, or if you have questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at email@example.com.
This press release may constitute Attorney Advertising in certain jurisdictions.
Joon M. Khang, Esq. Telephone: 949-419-3834 Facsimile: 949-225-4474 firstname.lastname@example.org
SOURCE: Khang & Khang LLP