SHAREHOLDER ALERT: Levi & Korsinsky Notifies Investors With Losses on Their
Investment in Exide Technologies of Class Action Lawsuit and the Deadline of
June 14, 2013 to Seek a Lead Plaintiff Position -- XIDE
NEW YORK, April 18, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a
class action lawsuit has been commenced in the United States District Court
for the Central District of California on behalf of investors who acquired
Exide Technologies ("Exide" or "the Company") (Nasdaq:XIDE) stock between
February 9, 2012 and April 3, 2013.
For more information, click here: http://zlk.9nl.com/exide-technologies-xide/.
The complaint alleges that during the class period defendants knew but
misrepresented and/or failed to disclose that: (a) Exide was exposing
residents near its Vernon, California facility to dangerously high levels of
pollutants; (b) Exide knew that the Company would not be able to meet its debt
repayment obligations and other pledges and promises under a $200 million
revolving facility, a $675 million bond, and a $55.7 million floating rate
convertible note due in September 2013; and (c) as a result, Exide knew its
environmental liabilities, debt obligations and potential insolvency supported
neither its positive statements to investor nor its quarterly guidance.
On March 22, 2013, the Company's recycling facility in Vernon was cited by the
South Coast Air Quality Management District (AQMD) as posing a substantial
cancer risk to residents of Southern California. Then, on April 3, 2013, Los
Angeles City Council members held a public hearing asking the government to
press charges against the Company to correct the health risk posed.
If you suffered a loss in Exide you have until June 14, 2013 to request that
the Court appoint you as lead plaintiff. Your ability to share in any recovery
doesn't require that you serve as a lead plaintiff. To obtain additional
information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or
by telephone at (877) 363-5972, or visit
Levi & Korsinsky is a national firm with offices in New York, New Jersey and
Washington D.C. The firm has extensive expertise in prosecuting securities
litigation involving financial fraud, representing investors throughout the
nation in securities and shareholder lawsuits. Attorney advertising. Prior
results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP
Joseph Levi, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
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