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Levi & Korsinsky announces the commencement of a class action lawsuit in the USDC for the District of Texas, Houston Division on behalf of shareholders of BlueNRGY Group Limited (formerly known as CBD Energy Limited) (NASDAQ: CBDE) who purchased shares between June 13, 2014 and October 24, 2014.
The complaint alleges that during the Class Period BlueNRGY issued materially false financial statements. On October 24, 2014, BlueNRGY announced that its previously issued audited financial statements for the fiscal years 2012 and 2013 and interim financial statements for the six months ended December 31, 2013 cannot be relied upon by investors. According to BlueNRGY, certain related party transactions involving its former Executive Chairman and Managing Director, Gerard McGowan, were not accurately disclosed in its financial statements. The failure to disclose and properly account for Mr. McGowan’s related party transactions rendered BlueNRGY’s financial statements for the fiscal years 2012 and 2013 false and misleading.
If you suffered a loss in BlueNRGY you have until November 7, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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