Brower Piven Encourages Investors Who Have Losses in Excess of $150,000 From
Investment in Exide Technologies to Inquire About the Lead Plaintiff Position
in Securities Fraud Class Action Lawsuit Before the June 14, 2013 Lead
Plaintiff Deadline -- XIDE
STEVENSON, Md., April 16, 2013 (GLOBE NEWSWIRE) -- Brower Piven, A
Professional Corporation announces that a class action lawsuit has been
commenced in the United States District Court for the Central District of
California on behalf of purchasers of Exide Technologies ("Exide" or the
"Company") (Nasdaq:XIDE) common stock during the period between February 9,
2012 and April 3, 2013, inclusive (the "Class Period").
If you have suffered a net loss from investment in Exide Technologies common
stock purchased on or after February 9, 2012, and held through April 3, 2013,
you may obtain additional information about this lawsuit and your ability to
become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by
email at firstname.lastname@example.org, by calling 410/415-6616, or at Brower Piven,
A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.
Attorneys at Brower Piven have combined experience litigating securities and
class action cases of over 60 years.
No class has yet been certified in the above action.Members of the Class will
be represented by the lead plaintiff and counsel chosen by the lead
plaintiff.If you wish to choose counsel to represent you and the Class, you
must apply to be appointed lead plaintiff no later than June 14, 2013 and be
selected by the Court.The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a settlement
and how much of a settlement to accept for the Class in the action. The lead
plaintiff will be selected from among applicants claiming the largest loss
from investment in the Company during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange
Act of 1934 by virtue of the defendants' failure to disclose during the Class
Period that Exide was polluting the environment with potentially fatal levels
of arsenic and exposing nearly 110,000 residents near its Vernon, California
battery recycling facility to dangerously high levels of pollutants, that
Exide knew that based on actual and projected revenues and expenses the
Company would be unable to meet its debt repayment obligations and other
pledges under its debt agreements and indentures, and that the Company knew
that its environmental liabilities, debt obligations and potential insolvency
did not support its statements to investors concerning the Company's
financials and quarterly guidance, or the inflated share price targets being
modeled by the investment community.According to the complaint, following an
April 4, 2013 report by Debtwire.com that Exide had hired financial advisory
firm Lazard Ltd. and the law firm Akin Gump Strauss Hauer & Feld LLP, both
bankruptcy experts, to advise on its financial restructuring after prior
restructuring efforts stalled, the value of Exide shares declined
If you choose to retain counsel, you may retain Brower Piven without financial
obligation or cost to you, or you may retain other counsel of your choice.You
need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven
Brower Piven, A Professional Corporation
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