Morgan & Morgan Announces the Filing of Class Action Against Maxwell
Technologies, Inc. (MXWL)
NEW YORK, March 20, 2013 (GLOBE NEWSWIRE) -- Morgan & Morgan announces that a
class action lawsuit has been commenced in the United States District Court
for the Southern District of California on behalf of purchasers of Maxwell
Technologies, Inc. ("Maxwell Technologies" or the "Company") (Nasdaq:MXWL)
common stock during the period between April 28, 2011 and March 7, 2013
inclusive (the "Class Period").
If you purchased Maxwell Technologies between April 28, 2011 and March 7,
2013, you may, no later than May 13, 2013, request that the Court appoint you
lead plaintiff of the proposed class. A lead plaintiff is a representative
party that acts on behalf of other class members in directing the litigation.
Any member of the purported class may move the Court to serve as lead
plaintiff through counsel of their choice, or may choose to do nothing and
remain an absent class member.
If you purchased Maxwell Technologies and want more information about the
Maxwell Technologies securities fraud lawsuit please contact George Pressly,
Esq. at 1 (800) 631-6234or email George at firstname.lastname@example.org.
Maxwell Technologies 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 Maxwell Technologies: (a) overstated its revenues and earnings in
2011 and 2012 in violation of Generally Accepted Accounting Principles; (b)
reported revenues prior to the time the sales price was fixed and/or
collection was reasonably assured; and (c) had deficient internal accounting
controls and permitted the premature recognition of revenue, leading to
materially misstated financial results. As a result of these false and
misleading statements, the Company's stock traded at artificially inflated
prices during the Class Period.
On March 7, 2013, the Company issued a press release disclosing that it would
be restating previously issued financial statements for 2011 and most of 2012.
On this news, the share price of Maxwell Technologies fell 11%, closing at
$8.10 per share on March 8, 2013.
About Morgan & Morgan
Morgan & Morgan is one of the nation's largest 200 law firms. In addition to
securities fraud, the firm also practices in the areas of antitrust, personal
injury, consumer protection, overtime, and product liability.All of the
Firm's legal endeavors are rooted in its core mission: provide investor and
consumer protection and always fight "for the people."
Attorney advertising. Prior results do not guarantee a similar outcome.
CONTACT: Morgan & Morgan
Peter Safirstein, Esq.
28 West 44th Street
New York, NY 10036
Press spacebar to pause and continue. Press esc to stop.