On September 2, 2016, StoneMor revealed that it found errors in its financials and would correct and restate its statements. On October 27, 2016, StoneMor cut its distribution by half and following this news, StoneMor stock dropped $11.08 per share, or 44.64%, to close at $13.74 per share on October 28, 2016. Then on November 9, 2016, StoneMor announced it would "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." Following this news, StoneMor stock dropped $0.46 per share, or 5.09%, to close at $8.57 on November 9, 2016.
If you are aware of any facts relating to this investigation, or purchased StoneMor shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/ston. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
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. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
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