Law Offices of Todd M. Garber Announces Lead Plaintiff Deadline In The Class
Action Lawsuit Against Atlantic Power Corporation
LOS ANGELES -- April 19, 2013
The Law Offices of Todd M. Garber announces that shareholders of Atlantic
Power Corporation (“Atlantic Power” or the “Company”) (NYSE:AT) have until May
7, 2013 to move for lead plaintiff status in the shareholder lawsuit filed in
the United States District Court for the District of Massachusetts. The
lawsuit was filed on behalf of a class (the “Class”) comprising all purchasers
of Atlantic Power common stock between July 23, 2010 and March 4, 2013,
inclusive (the “Class Period”).
Atlantic Power operates as a power generation and infrastructure company with
a portfolio of assets in the United States and Canada. The Complaint alleges
that throughout the Class Period the Company and its Chief Executive Officer
made false and misleading statements or failed to disclose material adverse
facts about the Company’s business, operations and prospects, including the
sustainability of Atlantic Power’s stock dividend, which was regarded by the
Company as one of its corporate objectives.
On February 28, 2013 the Company announced a reduction in the annual dividend
level to Cdn$0.40 per share, or Cdn$0.03333 per share on a monthly basis. On
this news, shares of the Company declined $2.85 per share, or 28.59%, to close
on March 1, 2013 at $7.12 per share on unusually heavy volume, and further
declined $1.21 per share, or 16.99%, to close on March 4, 2013 at $5.91 per
share, also on unusually heavy volume.
If you are a member of the above-described Class, you may move the Court no
later than May 7, 2013 to serve as lead plaintiff; however, you must meet
certain legal requirements. To be a member of the Class you need not take any
action at this time. You may retain counsel of your choice or take no action
and remain an absent Class member. If you wish to discuss this action or have
any questions concerning this Notice or your rights or interests with respect
to these matters, please contact Todd M. Garber, Esquire, of the Law Offices
of Todd M. Garber, by telephone at 213-700-7262 or by email to
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Law Offices of Todd M. Garber
Todd M. Garber, Attorney at Law
Los Angeles, California
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