Upcoming Investor Deadline: Faruqi & Faruqi Probes Claims Against Sun Communities for Shareholder Justice

Investor Alert: Faruqi & Faruqi Investigates Sun Communities

As the February 10, 2025 deadline looms, investors in Sun Communities, Inc. are urged to take action. Faruqi & Faruqi, LLP, a prominent national securities law firm, is actively investigating potential claims arising from legal issues that may have affected shareholders in this real estate investment trust. The investigation centers around allegations that Sun Communities and its executives engaged in misleading practices that may have led to substantial financial losses for investors.

Specifically, claims suggest that the company made false representations concerning its financial standing and failed to disclose critical negative facts regarding its financial dealings. Notably, the allegations include undisclosed loans and a significant $4 million mortgage that may have misled investors regarding the actual liquidity and financial health of Sun Communities. These concealed facts reportedly contributed to inflated stock prices, resulting in misinformed purchasing by shareholders.

The troubling issue surfaced following a report from Blue Orca Capital. The report claimed that the CEO of Sun Communities, Mr. Shiffman, secured an undisclosed loan from a family member of an allegedly independent director on the company’s board. This director, who has served as both a member of the Audit Committee and chair of the Compensation Committee for nearly a decade, potentially presents a conflict of interest that raises serious concerns for investors.

Following the public release of this information on September 25, 2024, Sun Communities’ stock price experienced a decline of 1.2%, closing at $137.48. Investors who acquired Sun securities between February 28, 2019, and September 24, 2024, may be eligible to participate in a federal securities class action lawsuit. The primary aim of this legal action is to recover losses incurred due to the alleged misconduct of Sun Communities.

In light of this situation, the role of the lead plaintiff has garnered attention. This position is typically filled by the investor with the largest financial interest in the lawsuit who is also representative of the class. While any member of the class may seek this leadership role with their legal counsel, it is crucial to understand that participating or opting out will not impact the individual's ability to benefit from any settlement or judgement reached in court.

Faruqi & Faruqi encourages all investors affected by these developments to reach out and discuss their experiences. Current or former employees, whistleblowers, and shareholders who possess additional information regarding Sun Communities are also invited to contact the firm.

For more information about the ongoing investigation or to determine your legal options, interested parties can visit Faruqi & Faruqi’s official website or directly contact partner Josh Wilson by calling 877-247-4292 or 212-983-9330 (Ext. 1310). The firm emphasizes that all communications will be handled confidentially and urges those impacted by any related financial losses to act promptly as the deadline approaches.

Stay informed with the latest updates on this pressing issue via Faruqi & Faruqi’s social media channels on LinkedIn, Facebook, or X for ongoing news regarding the case. This disclosure is marked as attorney advertising, and results from previous cases do not guarantee a similar outcome in future proceedings.