NEW YORK, Nov. 23, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of StoneMor Partners L.P. ("StoneMor" or the "Company") (NYSE: STON). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 237.
The investigation concerns whether StoneMor and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On September 2, 2016, StoneMor announced that it would restate its financials to correct various errors. Then, on October 27, 2016, StoneMor cut its distribution by half. On this news, StoneMor's share price fell $11.08, or 44.64%, to close at $13.74 on October 28, 2016. On November 9, 2016, StoneMor announced the need to "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."
On this news, StoneMor's share price fell $0.46, or 5.09%, to close at $8.57 on November 9, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
CONTACT: Robert S. Willoughby
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SOURCE Pomerantz LLP