NEW YORK, July 18, 2012 /PRNewswire/ -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Lime Energy Co. ("Lime Energy" or the "Company") (NasdaqCM: LIME), concerning whether the company and certain of its officers and directors have violated federal securities laws.
On July 17, 2012, shares of Lime Energy plummeted $0.91 or 44.83% to close at $1.12. The company disclosed based on the results of a partial internal review that the consolidated financial statements for the periods ended December 31, 2010 and December 31, 2011, as well as the quarterly report for the period ended March 31, 2012, may no longer be relied upon. According to the Company's management and the Audit Committee, they believe that some portion of the Company's revenue was improperly recorded. In some cases, it appears that non-existent revenue may have been recorded. In other cases, it appears that revenue may have been recorded earlier than it should have been.
If you are aware of any facts relating to this investigation, or purchased shares of Lime Energy, you can assist this investigation by contacting either Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration.