NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky is investigating potential claims on behalf of purchasers of Lime Energy Co. (“Lime” or the “Company”) (Nasdaq: LIME) securities concerning possible breaches of fiduciary duty. In particular, the investigation concerns the quality of the internal controls within the Company.
“it appears that non-existent revenue may have been recorded. In other cases, it appears that revenue may have been recorded earlier than it should have been.”
For more information, click here: http://zlk.9nl.com/limeenergy-lime/.
In a July 17, 2012 press release the Company disclosed the results of a partial internal review, determining that its consolidated financial statements for the periods ended December 31, 2010 and December 31, 2011, as well as the quarterly report for the period ended March 31, 2012, could no longer be relied upon. At this time the Company acknowledged that some of its revenue may have been improperly recorded; in particular, “it appears that non-existent revenue may have been recorded. In other cases, it appears that revenue may have been recorded earlier than it should have been.” Then, on December 27, 2012, the Company announced that its consolidated financial statements on its Form 10-Ks for the years ended December 31, 2008 and December 31, 2009 could also not be relied upon.
If you own Lime stock and wish to obtain additional information about the investigation and your legal rights, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/limeenergy-lime/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.