Shareholder firm to investigate Lime Energy
by Staff Writer
The firm, in a press release, said the Lime Energy investigation involves the company's officers and directors possibly having breached their duties to shareholders by permitting procedures that led to false and misleading statements. Lime Energy, in a release last July, admitted it was under an internal investigation regarding revenue being improperly reported.
The company's stock fell 45 percent after news of the internal investigation broke out.
Robbins Arroyo said Lime Energy's shareholders have the option of pursuing a shareholder derivative action, which would allow the shareholders to hold company leaders accountable for their actions and attempt to bring the company back to good repute.
Lime Energy shareholders can visit www.robbinsarroyo.com to learn more about their rights as the investigation continues.