Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson encourages investors who suffered losses greater than $50,000 in Sun Communities (NYSE:) to contact him directly to discuss their options
If you suffered losses greater than $50,000 in Communities of the sun between February 28, 2019 and September 24, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly in 877-247-4292 either 212-983-9330 (extension 1310).
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New York, New York–(Newsfile Corp. – January 3, 2025) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Sun Communities, Inc. (“Sun Communities” or the “Company”) (NYSE: SUI) and reminds investors of the Deadline of February 10, 2025 to seek the role of lead plaintiff in a federal securities class action lawsuit that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the lawsuit alleges that the Company and its executives violated the federal securities laws by making false and/or misleading statements and/or failing to disclose material adverse facts about the source of the money, i.e., undisclosed loans and a $4 million mortgage. . Importantly, the Defendants withheld key information regarding Board members’ insider trading, loans taken out on behalf of SUI by CEO Shiffman, and the mortgage signed by CEO Shiffman on behalf of an entity called DH Bingham Farms. LLC. Such statements, in the absence of these material facts, caused plaintiff and other shareholders to purchase SUI securities at artificially inflated prices.
On September 25, 2024, Blue Orca Capital published a report alleging, among other things, that the CEO of Sun Communities “received an undisclosed loan of $4 million from the family of a supposedly independent director who served on the Committee of Audit and chaired the Compensation Committee”. for almost a decade.”
On this news, Sun Communities’ stock price fell $1.62, or 1.2%, to close at $137.48 per share on September 25, 2024, hurting investors.
The court-appointed lead plaintiff is the investor with the greatest financial interest in the relief sought by the class, which is appropriate and typical of class members directing and overseeing the litigation on behalf of the putative class. Any member of the putative class may ask the Court to serve as lead plaintiff through counsel of his or her choice, or may choose to do nothing and remain an absent class member. Your ability to participate in any recovery is not affected by the decision of whether or not to serve as lead plaintiff.
Faruqi & Faruqi, LLP also encourages anyone with information about Sun Communities’ conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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Lawyer advertising. The law firm responsible for this announcement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict a similar outcome with respect to any future matter. We appreciate the opportunity to discuss your particular case. All communications will be treated confidentially.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235897