Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 Investing In Just Energy Group Inc. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Just Energy Group Inc. ("Just Energy" or the "Company")(NYSE:JE) of the September 30, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Just Energy stock or options between November 9, 2017 and July 23, 2019 and would like to discuss your legal rights, please fill out the form below. There is no cost or obligation to you. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org.
The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Just Energy securities between November 9, 2017 and July 23, 2019 (the "Class Period"). The case, Goitein v. Just Energy Group Inc. et al., No. 19-cv-07181 was filed on July 31, 2019.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that the Company experienced customer enrollment and nonpayment issues and that, as a result, the Company was reasonably likely to incur an impairment charge to its accounts receivable.
On July 23, 2019, the Company disclosed that it had "identified customer enrolment [sic] and non-payment issues, primarily in Texas, over the past 12 months" and that, as a result, it expected an impairment charge of CAD $45 to $50 million to its Texas residential accounts receivable.
On this news, Just Energy's share price fell from $4.38 per share on July 22, 2019 to a closing price of $3.72 on July 23, 2019: a $0.66 or a 15.10% drop.
Just Energy Group Inc. (JE)
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Filed on 08/01/2019
Lead Plaintiff Deadline 09/30/2019
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