American Campus Communities Inc
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Real Estate : Equity Real Estate Investment Trusts (REITs) | Small Cap Blend
Company profile

American Campus Communities, Inc. is a self-managed and self-administered equity real estate investment trust (REIT). The Company's segments include Wholly-Owned Properties, On-Campus Participating Properties, Development Services, and Property Management Services. It is engaged in the acquisition, design, financing, development, construction management, leasing and management of student housing properties. The Wholly-Owned Properties segment consists of off-campus properties, which are located in close proximity to the school campus. The On-Campus Participating Properties segment includes on-campus properties that are operated under long-term ground/facility leases with three university systems. The Development Services segment consists of development and construction management services that it provides through one of its taxable REIT subsidiaries for third-party owners. The Property Management Services segment includes revenues generated from third-party management contracts.

Closing Price
$44.88
Day's Change
0.00 (0.00%)
Bid
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B/A Size
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Day's High
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Volume
(Light)
Volume:
0

10-day average volume:
756,194
0

SHAREHOLDER ALERT: Lowey Dannenberg, P.C., Investigates Claims on Behalf of Investors of Plug Power Inc. and Encourages Investors to Contact the Firm

9:30 am ET April 8, 2021 (Globe Newswire) Print

Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, is investigating claims of violations of federal securities laws on behalf of investors of Plug Power Inc. ("Plug Power" or the "Company") (NASDAQ: PLUG).

Plug Power is a developer of hydrogen fuel cell solutions focused on electric motors. According to a recently filed complaint, the Company and its senior management failed to disclose to investors that Plug Power suffered from material weaknesses in its internal controls over financial reporting, including with respect to the classification of certain costs and the recoverability of the right to use assets with certain leases.

The truth regarding Plug Power's weaknesses in its internal control over financial reporting was revealed on March 2, 2021, when the Company filed a Notification of Late Filing with the U.S. Securities and Exchange Commission. In that filing, Plug Power stated that it could not timely file its annual report for the period ended December 31, 2020 because it was completing a "review and assessment of the treatment of certain costs with regards to classification between Research and Development versus Costs of Goods Sold, the recoverability of right of use assets associated with certain leases, and certain internal controls over these and other areas." On this news, shares fell $3.68 per share, or 7%, to close at $48.78 on March 2, 2021.

Thereafter, on March 16, 2021, Plug Power announced that it would restate its financial statements for fiscal years 2018 and 2019, as well as quarterly reports for 2019 and 2020. By March 17, shares had declined to a closing price of $39.33 per share, down from a March 1 closing price of $52.46 per share.

If you purchased Plug Power securities between November 9, 2020 and March 1, 2021, inclusive, you have until May 7, 2021 to ask the Court to appoint you as Lead Plaintiff for the class. To participate, learn more, or discuss the issues surrounding the investigation, please contact our attorneys at (914) 733-7256 or via email at investigations@lowey.com.

Whistleblowers: Persons with non-public information regarding Plug Power should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.

About Lowey Dannenberg

Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.

Contact

Lowey Dannenberg P.C.

44 South Broadway, Suite 1100

White Plains, NY 10601

Tel: (914) 733-7256

Email: investigations@lowey.com

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