EnerNOC Shareholders Fire Off Derivative Suit

Law360, New York (May 19, 2008, 12:00 AM EDT) -- A $23 million net annual loss that sent the share price of energy management company EnerNOC Inc. tumbling has prompted shareholders to file a derivative suit on behalf of the energy solutions company, accusing the company's officers and directors of breaching their fiduciary duty.

In a derivative suit filed on May 14 in the U.S. District Court for the District of Massachusetts, shareholders alleged that the officers and directors of EnerNOC “failed to disclose material adverse facts about the Company's financial well-being, business relationships, and prospects,”...
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