Law Offices of Howard G. Smith Announces Class Action Lawsuit Against
Maxwell Technologies, Inc.
BENSALEM, Pa. -- March 16, 2013
Law Offices of Howard G. Smith announces that a class action lawsuit has been
filed in the United States District Court for the Southern District of
California on behalf of all purchasers of the common stock of Maxwell
Technologies, Inc. (“Maxwell” or the “Company”) (NASDAQ:MXWL) between April
28, 2011 and March 7, 2013, inclusive (the “Class Period”).
Maxwell develops, manufactures, and markets energy storage and power delivery
products, and microelectronic products worldwide. The Complaint alleges that
throughout the Class Period, defendants made materially false and misleading
statements, and omitted materially adverse facts, about the Company’s
business, operations and prospects. Specifically, the Complaint alleges that:
(a) Maxwell had overstated its revenues and earnings in 2011 and 2012 in
violation of Generally Accepted Accounting Principles (“GAAP”); (b) Maxwell
had reported revenues prior to the time the sales price was fixed and/or
collection was reasonably assured; and (c) Maxwell’s internal accounting
controls were deficient and permitted the premature recognition of revenue,
leading to materially misstated financial results. As a result of defendants’
false and misleading statements, the Company’s stock traded at artificially
inflated prices during the Class Period.
If you purchased Maxwell securities between April 28, 2011 and March 7, 2013,
if you have information or would like to learn more about these claims, or if
you wish to discuss these matters or have any questions concerning this
announcement or your rights or interests with respect to these matters, please
contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070
Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215)
638-4847, Toll Free at (888) 638-4847, or by email to
firstname.lastname@example.org, or visit our website at
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
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