SOURCE: Johnson & Perkinson

March 07, 2008 11:32 ET

Johnson & Perkinson Announces Commencement of Class Action Litigation Naming EnerNOC, Inc.

SOUTH BURLINGTON, VT--(Marketwire - March 7, 2008) - Johnson & Perkinson hereby announces the commencement of a class action lawsuit naming EnerNOC, Inc. ("ENOC" or the "Company") (NASDAQ: ENOC). The action, docket numbered 08-CV-0579, was filed in the United States District Court for the District of Massachusetts. Individuals, families, trusts or other entities that purchased ENOC common stock between November 1, 2007 and February 27, 2008, inclusive, have the opportunity to participate as Lead Plaintiffs in the currently pending class action litigation against the Company. To do so, you must apply to serve in that capacity by May 5, 2008.

Johnson & Perkinson, a litigation boutique law firm based in South Burlington, Vermont, has extensive experience prosecuting investor class actions and actions involving financial fraud. Attorneys Johnson and Perkinson are both former employees of the Securities and Exchange Commission. Dedicated to maximizing shareholder return, members of Johnson & Perkinson have prosecuted complex class actions alleging securities or consumer fraud/deception on behalf of investors/consumers against numerous public companies since 1985, resulting in the recovery of many hundreds of millions of dollars, and have been singled out for excellence by various courts. The firm is litigating, or has recently resolved litigation, as Lead or Co-Lead Counsel in securities class actions against Xerox, Priceline, Wireless Facilities, i2 and Xchange, and serves on the Executive Committee in the Global Crossing case.

The Complaint alleges that ENOC presented itself throughout the Class Period as a company that was growing rapidly, and one which was able to provide services and book revenues on an almost immediate basis. At the end of the Class Period, however, ENOC revealed, among other things, that: (1) ballooning operational and compensation expenses were outpacing revenue growth, resulting in losses greater than the market expected; and (2) that an increasing number of ENOC's forward capacity contracts involve substantial upfront costs, but a prolonged "lag" in the ability to recognize revenue. Upon the announcement of this adverse news, ENOC's shares dropped almost 30 percent in heavy trading, wiping out over $100 million in shareholder value.

If you wish to discuss this action or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Johnson & Perkinson attorneys James F. Conway, III or Eben F. Duval toll free at 1-888-459-7855; via email at email@jpclasslaw.com; through our website at www.jpclasslaw.com; or by mail at Johnson & Perkinson, 1690 Williston Road, P.O. Box 2305, South Burlington, Vermont 05403. Attorneys at Johnson & Perkinson can help you decide if seeking appointment as a Lead Plaintiff is right for you. Your ability to share in any recovery is not affected by your decision to not seek appointment as a Lead Plaintiff.

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