BERWYN, Pa., Nov. 21, 2016 /PRNewswire/ -- The Weiser Law Firm, P.C., a national shareholder rights firm, today announced that a class action has been commenced in the 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").
If you wish to serve as lead plaintiff, you must move the Court no later than January 20,2017. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact either Brett D. Stecker or James M. Ficaro of The Weiser Law Firm, P.C. at (610) 225-2677, or via e-mail at [email protected] and [email protected], respectively. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
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.
Plaintiff seeks to recover damages on behalf of all purchasers of StoneMor common units during the Class Period. Plaintiff is represented by the Weiser Firm which has extensive experience in prosecuting investor class actions including actions involving financial fraud.
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 The Weiser Law Firm, P.C. or other counsel of your choice, to serve as your counsel in this action.
The Weiser Law Firm, P.C. is a national shareholder litigation firm. The Weiser Law Firm, P.C. is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide. Ryan & Maniskas, LLP is also listed as counsel on this matter.
The Weiser Law Firm, P.C.
Brett D. Stecker
James M. Ficaro
22 Cassatt Ave.
Berwyn, PA 19312
SOURCE Ryan & Maniskas, LLP