NEW ORLEANS, May 27, 2014 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until July 22, 2014 to file lead plaintiff applications in a securities class action lawsuit against PowerSecure International, Inc. (NYSE:POWR), if they purchased the Company's securities during the period between March 10, 2014 through May 7, 2014, inclusive (the "Class Period"). This action is pending in the United States District Court for the Eastern District of North Carolina.
What You May Do
If you purchased shares of PowerSecure and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org) or KSF Partner Melinda Nicholson (email@example.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by July 22, 2014.
About the Lawsuit
PowerSecure and certain of its executives are charged with issuing a series of materially false and misleading statements during the Class Period, violating federal securities laws.
On May 7, 2014, PowerSecure announced its results for the first quarter of 2014, disclosing a net loss of $0.17 per share and revenue of $52.8 million, compared to analysts' earnings estimates of profits of $0.02 per share and revenues or $59.33 million, and a gross profit margin of only 20.9%, down from 30.6% for the same quarter in 2013. PowerSecure blamed the decrease in its margins and earnings on substantial shortfalls in its utility infrastructure revenue and its failure to properly allocate resources.
On this news, the price of PowerSecure's shares plummeted by over 62%.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.
CONTACT: Kahn Swick & Foti, LLC Lewis Kahn, Managing Partner firstname.lastname@example.org Melinda Nicholson, Partner email@example.com 1-877-515-1850 206 Covington St. Madisonville, LA 70447Source:Kahn Swick & Foti, LLC