WAYNE, Pa., Nov. 23, 2016 /PRNewswire/ -- Ryan & Maniskas, LLP announces it has filed a class action lawsuit in United States District Court for the Eastern District of Pennsylvania on behalf of all persons or entities that purchased StoneMor Partners L.P. ("StoneMor" or the "Company") (NYSE: STON) common units between January 19, 2012 and October 27, 2016, inclusive (the "Class Period"). Additionally, purchasers who acquired units in the Company's March 2013, February 2014, May 2014, July 2015, November 2015 or April 2016 offerings are also included in this lawsuit.
StoneMor shareholders may, no later than January 20, 2017, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of StoneMor and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/ston.
StoneMor is the second largest owner and operator of cemeteries and funeral homes in the United States. The complaint charges StoneMor and certain of its current and former officers and directors with violations of the Securities Exchange Act of 1934. Specifically, according to the Complaint, StoneMor made false and misleading statements and/or failed to disclose during the Class Period: (1) that the Company's reported non-GAAP financial metrics were materially misleading and concealed the truth about the Company's actual financial condition; and (2) that the primary purpose of the Company's regular debt and equity offerings were to pay distributions to unitholders rather than to pay down indebtedness under the Company's revolving credit facility as publicly stated. As a result, StoneMor's statements about its business, operations, and prospects, were false and misleading and/or lacked a reasonable basis at all relevant times.
If you are a member of the class, you may, no later than January 20, 2017, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.
For more information regarding this, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at [email protected] or visit: www.rmclasslaw.com/cases/ston. For more information about class action cases in general or to learn more about Ryan & Maniskas, LLP, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.