Faruqi & Faruqi Securities LLP partner James (Josh) Wilson encourages investors who have suffered losses exceeding $50,000 in Sun Communities (NYSE:) to contact him directly to discuss their options.
If you suffer losses exceeding $50,000 Sun communities If you would like to discuss your legal rights, contact Farooqui & Farooqui Partner Josh Wilson live in 877-247-4292 or 212-983-9330 (ext. 1310).
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New York, New York–(Newsfile Corp. – December 25, 2024) – 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 For the role of lead plaintiff in a federal securities class action lawsuit filed against the Company.
Farooqui & Farooqui is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The company has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint 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 relating to the source of funds, namely undisclosed loans and a $4 million mortgage. . . Most importantly, the defendants concealed key information regarding board members' insider trading, loans obtained by CEO Shiffman on behalf of SUI, and mortgages 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 Sun Communities' CEO “received an undisclosed $4 million loan from the family of an allegedly independent director who sat on the audit committee and chaired the compensation committee.” . For nearly 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.
A court-appointed lead plaintiff is the investor with the greatest financial interest in the relief sought by the class and is appropriate and typical for members of the class who direct and oversee 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 their choice, or they may choose to do nothing and remain an absent member of the class. Your ability to participate in any recovery is not affected by the decision whether or not to serve as lead plaintiff.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Sun Communities' conduct to contact the company, including whistleblowers, former employees, shareholders and others.
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Lawyer advertisement. The law firm responsible for this announcement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict a similar result with respect to any future matter. We welcome the opportunity to discuss your specific case. All communications will be treated confidentially.
