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NEW YORK, Oct. 26, 2016 -- Rosen Law Firm announces the filing of a class action lawsuit on behalf of purchasers of BlueNRGY Group Limited, f/k/a CBD Energy Limited (NASDAQ: CBDE) stock from June 13, 2014 through October 24, 2014 (the “Class Period”). The lawsuit seeks to recover damages for BlueNRGY investors under the federal securities laws.
To join the BlueNRGY class action, go to the website at http://www.rosenlegal.com/cases-411.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action. The suit is pending in U.S. District Court for the Southern District of Texas.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, BlueNRGY issued materially false financial statements during the Class Period. On October 24, 2014, BlueNRGY announced that its previously issued audited financial statements for the fiscal years 2012 and 2013 and interim financial statements for the six months ended December 31, 2013 cannot be relied upon by investors. According to BlueNRGY, certain related party transactions involving its former Executive Chairman and Managing Director, Gerard McGowan, were not accurately disclosed in its financial statements. The failure to disclose and properly account for Mr. McGowan’s related party transactions rendered BlueNRGY’s financial statements for the fiscal years 2012 and 2013 false and misleading. On this news, shares of BlueNRGY fell sharply on October 24, 2014, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 7, 2016. If you wish to join the litigation go http://www.rosenlegal.com/cases-411.html or to discuss your rights or interests regarding this class action, please contact, Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected].
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. Kevin Chan, Esq. The Rosen Law Firm P.A. 275 Madison Avenue, 34th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 [email protected] [email protected] [email protected] www.rosenlegal.com
