Pomerantz Haudek Grossman & Gross LLP has filed a class action lawsuit against Lime Energy Co. (“Lime Energy” or the “Company”)(NASDAQ:LIME) and certain of its officers for alleged violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The class action, filed in United States District Court, Northern District of Illinois under docket number 12 C 5704, is on behalf of a class consisting of all persons or entities who purchased Lime Energy securities between May 13, 2010 and July 17, 2012, inclusive (the “Class Period”).
If you are a shareholder who purchased Lime Energy securities during the Class Period, you have until September 18, 2012 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Rachelle R. Boyle at firstname.lastname@example.org or 888.476.6529 (or 888.4-POMLAW), toll free, x237. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.
Lime Energy is a provider of clean energy solutions. The Company’s services include integrated energy engineering, consulting and implementation of solutions which enable its customers to reduce their facilities’ energy consumption, lower their operating and maintenance costs and reduce their carbon footprint.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company was improperly recording revenue; (2) that, as a result, the Company’s revenue and financial results were overstated; (3) that, as such, the Company’s financial statements were not prepared in accordance with Generally Accepted Accounting Principles (“GAAP”); (4) that the Company lacked adequate internal and financial controls; and (5) that, as a result of the foregoing, the Company’s financial statements were materially false and misleading at all relevant times.
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