Maxwell Technologies Shareholder Alert: Briscoe Law and Powers Taylor
Investigate Possible Breaches of Fiduciary Duty by Officers and Directors
DALLAS -- March 21, 2013
Former United States Securities and Exchange Commission attorney Willie
Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation
firm of Powers Taylor, LLP announce that a federal class action lawsuit has
been filed against Maxwell Technologies, Inc. (“Maxwell Technology” or
“Company”) (NasdaqGS: MXWL). The firms are investigating additional legal
claims against the officers and Board of Directors of Maxwell Technologies
during the period of April 28, 2011 to March 7, 2013 (the “Class Period”).
If you are an affected investor and you want to learn more about the lawsuit
or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC,
(214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Zachary
Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at
email@example.com. There is no cost or fee to you.
In a recently filed federal class action complaint, Maxwell Technologies and
certain of its officers were charged with violating certain provisions of the
Securities Exchange Act of 1934. Specifically, the complaint alleges that
defendants’ misrepresented and/or failed to disclose that: (a) Maxwell had
overstated its revenues and earnings in 2011 and 2012 in violation of
Generally Accepted Accounting Principles; (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. According to the complaint, when these facts were
finally disclosed, Maxwell Technologies’ shares dropped substantially.
“Recent revelations about alleged improper business practices and procedures
regarding key aspects of Maxwell Technologies’ business and other misleading
financial statements have prompted the firms to investigate possible breaches
of fiduciary duties and other violations of state law by Maxwell Technologies’
officers and directors. Based on our investigation, we are prepared to pursue
litigation to preserve the company and the value of Maxwell Technologies stock
for all shareholders,” said shareholder rights attorney Patrick Powers.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial
transaction, and public advocacy firm with more than 20 years of experience in
complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of
complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits, and
security class actions.
The Briscoe Law Firm, PLLC
Willie Briscoe, 214-239-4568
Powers Taylor, LLP
Zachary Groover, 877-728-9607
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