NEW YORK, Aug. 09, 2019 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of those who acquired Just Energy Group, Inc. (“Just Energy” or the “Company”) (NYSE: JE) securities during the period from November 9, 2017 to July 23, 2019 (the “Class Period”), inclusive.
Investors who purchased the shares of Just Energy Group, Inc. are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.
If you have incurred losses in the shares of Just Energy Group, Inc. you may, no later than September 30, 2019, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Just Energy Group, Inc.
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The lawsuit alleges that Just Energy failed to disclose that:
- the Company had experienced customer enrollment and nonpayment issues;
- as a result, the Company was reasonably likely to incur an impairment charge to its accounts receivable; and
- as a result, the Company lacked adequate internal control over its financial reporting.
On July 23, 2019, the Company disclosed that it had “identified customer enrollment 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, the price of Just Energy shares fell $0.66, or 15%, to close at $3.72 on July 23, 2019.
Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
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