Federman & Sherwood Announces the Filing of a Securities Class Action
Lawsuit against Blue Earth Inc.
Oklahoma City, OK (October 27, 2014) – On October 24, 2014, a securities class action lawsuit was filed in the United States District Court for the Central District of California against Blue Earth Inc. (NASDAQ: BBLU). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is October 7, 2013 through October 21, 2014. More specifically, this litigation was filed because Blue Earth overstated the market potential of its UPStealth products. On October 21, 2014 a financial blog published a report on Blue Earth, which asserted, among other things, that the potential market for Blue Earth's UPStealth product was unviable. The blog also revealed numerous red flags of potential fraud. When this news was disclosed on October 21, 2014, shares of Blue Earth fell over 50%, damaging investors.
Plaintiff seeks to recover damages on behalf of all Blue Earth Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Tuesday, December 23, 2014 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
To join this class action, click here to obtain an investor certification. Once complete, please email this form to email@example.com, fax to us at (405) 239-2112 or send by regular mail to Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK 73120, ATTN: Lynn.
Posted on Mon, October 27, 2014
by K. Lynn Nunn filed under