Lawsuit on Behalf of Maxwell Technologies Inc. (MXWL) Investors Over Alleged
Misleading Statements Announced by Shareholders Foundation
SAN DIEGO, March 18, 2013 (GLOBE NEWSWIRE) -- The Shareholders Foundation,
Inc. announces that a lawsuit was filed on behalf of certain purchasers of
Maxwell Technologies Inc. (MXWL) common stock over alleged violations of
Federal Securities Laws by Maxwell Technologies Inc. in connection with
certain allegedly false and misleading statements made between April 28, 2011
and March 7, 2013.
If you purchased a significant amount of common stock of Maxwell Technologies
Inc. (MXWL) between April 28, 2011 and March 7, 2013 and /or if you purchased
MXWL shares in 2011 or earlier and currently hold those shares, you have
certain options and you should contact the Shareholders Foundation, Inc. by
e-mail at email@example.com or call +1 (858) 779-1554.
The plaintiff alleges that Maxwell Technologies Inc. and certain of its
officers and directors violated the Securities Exchange Act of 1934. More
specifically, the plaintiff claims that the defendants issued between April
28, 2011 and March 7, 2013 allegedly materially false and misleading
statements regarding Maxwell Technologies' financial performance and business
prospects and overstated the Company's reported revenue.
The plaintiff says that as a result of the defendants' statements, the
Company's stock traded at inflated prices between April 28, 2011 and March 7,
2013, reaching a high of $21.20 per share on November 4, 2011.
On March 7, 2013, Maxwell Technologies, Inc. announced that on March 1, 2013,
the audit committee of its board of directors concluded that the previously
issued financial statements contained in its annual report on Form 10-K for
the year ended December 31, 2011, and all unaudited quarterly reports on Form
10-Q in 2011 and 2012, as well its selected financial data for the related
periods, should no longer be relied upon because of errors in those financial
The plaintiff seeks to recover damages.
Shares of Maxwell Technologies Inc. (MXWL) closed on March 15, 2013 at $7.34
per share, which is significantly below its current 52 week high of $19.34 per
Those who purchased shares of Maxwell Technologies Inc. have certain options
and should contact the Shareholders Foundation, Inc. by e-mail at
firstname.lastname@example.org or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring
and settlement claim filing service, which does research related to
shareholder issues and informs investors of securities class actions,
settlements, judgments, and other legal related news to the stock/financial
market. The Shareholders Foundation, Inc. is not a law firm. The information
is provided as a public service. It is not intended as legal advice and should
not be relied upon.
The Shareholders Foundation, Inc. logo is available at
CONTACT: Shareholders Foundation, Inc.
+1 (858) 779-1554
3111 Camino Del Rio North
San Diego, CA 92108
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