SHAREHOLDER ALERT: Levi & Korsinsky Notifies Investors with Losses on Their
Investment in Atlantic Power of Class Action Lawsuit and the Deadline of May
7, 2013 to Seek a Lead Plaintiff Position -- AT
NEW YORK, March 15, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a
class action lawsuit has been commenced in the United States District Court
for the District of Massachusetts on behalf of investors who purchased
Atlantic Power Corporation ("Atlantic Power" or the "Company") (TSX:ATP)
(NYSE:AT) stock between July 23, 2010 through March 4, 2013.
For more information, click here: http://zlk.9nl.com/atlantic-power-at/.
The complaint alleges that during the class period, defendants issued
materially false and misleading statements regarding the Company's business
practices and financial results. Specifically, the complaint alleges that: (a)
cash flows the Company was using to pay a dividend payout were being funded by
revenues derived from companies Atlantic Power was spending millions of
dollars to acquire; (b) Atlantic Power's losses from operations were mounting,
jeopardizing the Company's ability to maintain the outsized dividend payment;
and (c) defendants knew that many of the Company's project contracts were
scheduled to expire over the course of 2013, meaning cash flows from those
projects would be substantially lower after those contracts ended, and
unbeknownst to investors, Atlantic Power was not replacing those
contracts–further jeopardizing its ability to maintain the outsized dividend
payment that was supporting its stock price. As a result of defendants'
materially false and misleading statements, Atlantic Power common stock traded
at artificially inflated prices throughout the class period.
If you suffered a loss in Atlantic Power you have until May 7, 2013 to request
that the Court appoint you as lead plaintiff.Your ability to share in any
recovery doesn't require that you serve as a lead plaintiff. To obtain
additional information, contact Joseph E. Levi, Esq. either via email at
firstname.lastname@example.org or by telephone at (877) 363-5972, or visit
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and
Washington D.C. The firm has extensive expertise in prosecuting securities
litigation involving financial fraud, representing investors throughout the
nation in securities and shareholder lawsuits. Attorney advertising. Prior
results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
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