Klein v. Stonemor Partners L.P. et al
Filed: December 2, 2016 ◆§ 2:16-cv-06275-ER
StoneMor Partners L.P. and several officers were hit with a class action lawsuit in Pennsylvania alleging violations of the Securities Exchange Act of 1934.
StoneMor Partners L.P. and several officers were hit with a class action lawsuit in Pennsylvania alleging violations of the Securities Exchange Act of 1934. According to the suit, the company issued “materially false and misleading statements” regarding its business and financial performance. The complaint says these statements were “premised on a financial shell game that involved raising fresh capital from investors just in time to distribute a portion of it back to investors and the operators (the company’s senior offices and/or directors) of the scheme.” The suit is looking to cover anyone who purchased common units of StoneMor Partners, L.P. between January 19, 2012 and October 27, 2106.
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