ATLANTA, GA--(Marketwire -08/27/12)- Holzer Holzer & Fistel, LLC announces that a class action lawsuit has been filed in the United States District Court for the Northern District of Illinois on behalf of purchasers of Lime Energy Co. ("Lime Energy" or the "Company") (LIME) who purchased shares between May 13, 2010 and July 17, 2012, inclusive (the "Class Period"). The lawsuit alleges, among other things, that Lime Energy was improperly recording revenue during the Class Period which, according to the complaint, resulted in the Company overstating revenue and its financial results. On July 17, 2012, Lime Energy's stock priced declined approximately 45% after the Company announced the results of an internal review which found "non-existent revenue may have been recorded."
If you purchased Lime Energy common stock during the Class Period, you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made no later than September 18, 2012. Any member of the purported 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. If you are a Lime Energy investor and would like to discuss a potential lead plaintiff appointment, or your rights and interests with respect to the lawsuit, you may contact Michael I. Fistel, Jr., Esq., or Marshall P. Dees, Esq. via email at firstname.lastname@example.org, or email@example.com, or via toll-free telephone at (888) 508-6832.
Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.