PowerSecure improves terms of service with major customer, shares +13%

PowerSecure (POWR) +13.3% premarket on news it has modified the service arrangement with one of its major utility customers to improve the terms of its ongoing service.

The modifications include adjustments to pricing, work assignments and expected improvements in the ongoing scope of work.

POWR says the changes will restore the profitability of the work provided to the utility.

Also says it will vigorously defend against claims made in securities class action lawsuits filed last month against the company and two of its officers.

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