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Case Status:    DISMISSED    
On or around 05/13/2009 (Date of order of final judgment)

Filing Date: March 04, 2008

According to the Complaint, Plaintiff brings this class action on behalf of all persons similarly situated, (the "Class"), other than Defendants and their affiliates, who (1) purchased or otherwise acquired the common shares of EnerNOC, Inc. ("EnerNOC" or the "Company) between November 1, 2007, through and including, February 27, 2008, (the "Class Period"); and/or (2) purchased or otherwise acquired EnerNOC common stock pursuant to Prospectus on Form 424B4 filed November 13, 2007 ("November 13 Prospectus") between November 13, 2007 through and including February 27, 2008, for violations of the federal securities laws. Plaintiff seeks to recover damages caused to the Class by Defendants' violations of Section 11 of the Securities Act of 1933 (the "Securities Act") and Section 10(b) of the Securities Exchange Act of 1934 (the "Exchange Act").

Specifically, the complaint alleges that on November 1, 2007, EnerNOC announced its financial results for the third quarter and nine months ended September 30, 2007. EnerNOC reported revenues of $19.1 million for the third quarter of 2007, compared to $11.0 million for the same period in 2006. Total revenues for the nine months ended September 30, 2007, totaled $41.1 million. Cost of revenues for the third quarter of 2007 was $11.3 million, compared to $5.2 million for the same period in 2006. The Company represented that this was the highest quarterly revenue performance in Company history and that sales of EnerNOC’s demand response solutions accounted for substantially all of the third quarter revenue in both 2006 and 2007. These statements were materially false and misleading when made because Defendants knew, but failed to adequately reveal, that expenses were rising far faster than revenues creating a negative trend, and the increasing number of megawatts under management involved prolonged lags in the ability to recognize revenue.

According to the Company’s FORM 10-Q for the quarterly period ended March 31, 2009, in March 2008, three purported class action lawsuits were filed in the United States District Court for the District of Massachusetts (the Court) against the Company, several of its officers and directors, and certain of the underwriters of the Company’s November 2007 follow-on public offering of its common stock. The three class action complaints have been consolidated by the Court into a single action and an amended consolidated complaint was filed on September 24, 2008. The lead plaintiff in the consolidated class action claims to represent two purported classes: (i) an “Exchange Act Class” consisting of persons who purchased shares of the Company’s common stock from November 1, 2007 through February 27, 2008 and (ii) a “Securities Act Class” consisting of persons who purchased shares of the Company’s common stock pursuant or traceable to the follow-on public offering. The lead plaintiff alleges, among other things, that the defendants made false and misleading statements and failed to disclose material information in various SEC filings and other public statements. The amended consolidated class action complaint asserts, on behalf of the purported Securities Act Class, various claims under the Securities Act of 1933, as amended (Securities Act), against all defendants and, on behalf of the purported Exchange Act Class, various claims under the Securities Exchange Act of 1934, as amended, and Rule 10b-5 against the Company and the individual officer and director defendants. The amended consolidated class action complaint seeks, among other relief, class certification, unspecified damages, fees, and such other relief as the Court may deem just and proper. The defendants filed a motion to dismiss the amended consolidated complaint on October 27, 2008 and a hearing on the motion was held on January 8, 2009. The Court took defendants’ motion under advisement following the hearing. During the hearing and thereafter, lead plaintiff expressed an intention to abandon his claims against all defendants under the Securities Act. The lead plaintiff has since voluntarily dismissed the underwriter defendants, against whom only Securities Act claims were alleged, from the matter. The Court has not taken any action on the defendants’ motion.

COMPANY INFORMATION:

Sector: Services
Industry: Business Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ENOC
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. Massachusetts
DOCKET #: 08-CV-10361
JUDGE: Hon. Rya W. Zobel
DATE FILED: 03/04/2008
CLASS PERIOD START: 11/01/2007
CLASS PERIOD END: 02/27/2008
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Abbey Spanier Rodd Abrams & Paradis, LLP (New York)
    212 East 39th Street, Abbey Spanier Rodd Abrams & Paradis, LLP (New York), NY 10016
    212-889-3700 212-684-519 · info@abbeyspanier.com
  2. Berman DeValerio Pease Tabacco Burt & Pucillo (MA)
    One Liberty Square, Berman DeValerio Pease Tabacco Burt & Pucillo (MA), MA 02109
    617.542.8300 ·
  3. Paskowitz & Associates
    60 East 42nd Street, 46th Floor, Paskowitz & Associates, NY 10165
    212.685.0969 212.685.2306 · classattorney@aol.com
  4. Roy Jacobs & Associates (New York)
    350 Fifth Avenue Suite 3000 , Roy Jacobs & Associates (New York), NY 10118
    · classattorney@pipeline.com
No Document Title Filing Date
COURT: D. Massachusetts
DOCKET #: 08-CV-10361
JUDGE: Hon. Rya W. Zobel
DATE FILED: 10/27/2008
CLASS PERIOD START: 11/01/2007
CLASS PERIOD END: 02/27/2008
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Kahn Gauthier Swick, LLC (New Orleans)
    650 Poydras St. Suite 2150, Kahn Gauthier Swick, LLC (New Orleans), LA 70130
    504.455.1400 · lewis.kahn@kglg.com
  2. Kahn Gauthier Swick, LLC (NY)
    12 East 41st Street, 12th Floor, Kahn Gauthier Swick, LLC (NY), NY 10016
    212.920.4310 212.696.3730 · info@kglg.com
No Document Title Filing Date
No Document Title Filing Date