Lawsuit Overview
Company
Security
NASDAQ: ENOC
Case Name
EnerNoc Inc. Case 05/14/2008
Type of Lawsuit
Stockholder Derivative Action
Court of Filing
U.S. District Court for the District of Massachusetts
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Summary
<p>On Wednesday, May 14th, shareholders have filed a derivative suit in the U.S. District Court for the District of Massachusetts against the Boston-based energy solutions companyEnerNOC Inc.. The $23 million net annual loss has sent the share price of energy management company EnerNOC Inc. tumbling. In February 2008, shares of EnerNOC Inc. fell 15.3 percent in after the company reported a larger fourth-quarter loss than some Wall Street analysts had expected. The shareholders on behalf of the energy solutions company accuse the company’s officers and directors of breaching their fiduciary duty.</p>