Lawsuit filed for Investors who lost money with shares of Sun Communities, Inc. (NYSE: SUI)

An investor, who purchased shares of Sun Communities, Inc. (NYSE: SUI), filed a lawsuit over alleged violations of Federal Securities Laws by Sun Communities, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Sun Communities, Inc. (NYSE: SUI) have certain options and for certain investors are short and strict deadlines running. Deadline: February 10, 2025. NYSE: SUI investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Southfield, MI based Sun Communities, Inc., which was established in 1975 became a publicly owned corporation in December 1993. Sun Communities, Inc. reported that its annual Total Revenue increased from over $2.93 billion in 2022 to over $3.17 billion in 2023, and that its Net Income of $242 million in 2022 declined to a Net Loss of $213.3 million in 2023.

On September 25, 2024, Blue Orca Capital published a report concerning Sun Communities, Inc. s. In this report, Blue Orca Capital stated that "Our diligence reveals that SUI's CEO received an undisclosed $4 million loan from the family of a purportedly independent Director who has sat on the Audit Committee and chaired the Compensation Committee for close to a decade. Put simply, undisclosed to investors, the family of a Board member overseeing the CEO's compensation and Company controls has been lending the CEO money to finance the purchase of luxury real estate. Stunningly, this is not the only undisclosed personal loan we uncovered from a SUI Board member to the CEO."

Shares of Sun Communities, Inc. (NYSE: SUI) declined from $147.83 per share on September 13, 2024, to as low as $132.43 per share on October 01, 2024.

The plaintiff claims that between February 28, 2019 and September 24, 2024, the Defendants provided investors with material information concerning SUI's accounting practices and internal control over financial reporting, and that the Defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning where money was coming from, namely, undisclosed loans and a $4 million mortgage.

Those who purchased shares of Sun Communities, Inc. (NYSE: SUI) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.