SHAREHOLDER ALERT: Levi & Korsinsky Notifies Investors with Losses on Their
Investment in Maxwell Technologies, Inc. of Class Action Lawsuit and the
Deadline of May 13, 2013 to Seek a Lead Plaintiff Position
NEW YORK, April 26, 2013
NEW YORK, April 26, 2013 /PRNewswire/ --Levi & Korsinsky announces that a
class action lawsuit has been commenced in the United States District Court
for the Southern District of California on behalf of investors who purchased
Maxwell Technologies, Inc. ("Maxwell" or the "Company") (NasdaqGS: MXWL) stock
between April 28, 2011 and March 7, 2013 (the "Class Period").
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The Complaint alleges that throughout the Class Period, defendants made
materially false and misleading statements, and omitted materially adverse
facts, about the Company's business, operations and prospects. Specifically,
the Complaint alleges that: (a) Maxwell had overstated its revenues and
earnings in 2011 and 2012 in violation of Generally Accepted Accounting
Principles ("GAAP"); (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. As a result of defendants' false and misleading statements, the
Company's stock traded at artificially inflated prices during the Class
On March 7, 2013, the Company issued a press release disclosing that it would
be restating previously issued financial statements for 2011 and most of 2012.
On this news, shares in Maxwell fell 11%, closing at $8.10 per share on March
If you suffered a loss in Maxwell you have until May 13, 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
email@example.com 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.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
SOURCE Levi & Korsinsky, LLP
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