The Rosen Law Firm Announces Investigation of Securities Claims Against
Exide Technologies – XIDE
NEW YORK -- April 4, 2013
The Rosen Law Firm announces that it is investigating potential securities
claims against Exide Technologies (NASDAQ: XIDE) resulting from allegations
that Exide failed to disclose that its Los Angeles area facility was
improperly emitting arsenic.
Exide operates a recycled lead acid battery smelting facility in Vernon,
California. On March 22, 2013, the South Coast Air Quality Management District
publicized a health risk assessment showing that Exide had exposed workers and
residents living downwind of the Vernon facility to potentially cancerous
levels of arsenic. On April 3, 2013, after close of business, an L.A. City
Council committee instructed the Los Angeles City Attorney's office to explore
legal action against Exide. The City Attorney was instructed to take action
seeking to ensure that Exide addressed the City Council's concerns
"immediately". On April 4, 2013, Debtwire reported that Exide had engaged
Lazard and Akin Gump Strauss Hauer & Feld LLP to advise on a restructuring.
On April 4, 2013, Exide's stock price fell from $2.61 to $1.36, where it was
halted by a circuit breaker, damaging investors.
The Rosen Law Firm is investigating a securities class action lawsuit on
behalf of Exide investors. If you purchased Exide stock before April 4, 2013,
please visit the website at http://rosenlegal.com for more information. You
may also contact Jonathan Horne, Esq., or Phillip Kim, Esq. of The Rosen Law
Firm toll free at 866-767-3653 or via e-mail at firstname.lastname@example.org or
The Rosen Law Firm represents investors throughout the globe, concentrating
its practice in securities class actions and shareholder derivative
Attorney Advertising. Prior results do not guarantee a similar outcome.
Laurence Rosen, Esq.
Phillip Kim, Esq.
Jonathan Horne, Esq.
The Rosen Law Firm P.A.
275 Madison Avenue 34^th Floor
New York, New York 10016
Tel: (212) 686-1060
Toll Free: 1-866-767-3653
Fax: (212) 202-3827
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