Class Action Launched Today regarding Atlantic Power Corporation (TSX: ATP)
TORONTO, March 19, 2013 /CNW/ - Merchant Law Group LLP launched a class action
today with the Ontario Superior Court of Justice, seeking to recover hundreds
of millions of dollars in damages on behalf of Atlantic Power Corporation
shareholders (as well as holders of Atlantic Power Corporation's debt
"Atlantic Power Corporation has experienced a dramatic recent loss in share
value. ATP shares have fallen from a 52-week high of C$15.12 to trading today
at below C$5.40. Canadians who own ATP shares have lost hundreds of millions
of dollars in share value as a result." said Evatt Merchant, regarding the
Canadian ATP litigation being handled by his law firm.
As stated in the litigation, Atlantic Power Corporation repeatedly emphasized
in statements to the market that its previous dividends would be "sustainable
into 2016 before considering any positive impact from potential future
acquisitions or organic growth opportunities". Notwithstanding those previous
statements, shareholders have recently seen the dividend paid on their shares
slashed by more than half.
The litigation launched today is the first shareholder class action filed
against Atlantic Power Corporation in Canada, and Atlantic Power Corporation
is also facing several major class actions in the United States.
For more information on the Atlantic Power Corporation class action, please
visit: https://www.merchantlaw.com/classactions/atlantic_power.php or call
Merchant Law Group LLP, a leading Canadian class action firm, has offices in
12 cities across Canada, from Montreal to Victoria.
For Media inquiries, please contact Evatt Merchant, at 888-567-7777 for
For Francophone inquiries, please contact our Montreal office, at
SOURCE: Merchant Law Group
To view this news release in HTML formatting, please use the following URL:
CO: Merchant Law Group
NI: LAW VERDICTS LAWVIEWS
-0- Mar/19/2013 19:16 GMT
Press spacebar to pause and continue. Press esc to stop.