Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of
$100,000 Investing In Exide Technologies To Contact The Firm
NEW YORK, May 4, 2013
NEW YORK, May 4, 2013 /PRNewswire/ --Faruqi & Faruqi, LLP, a leading national
securities law firm, is investigating potential securities fraud at Exide
Technologies ("Exide" or the "Company") (NASDAQ: XIDE).
The investigation focuses on whether the Company and its executives violated
federal securities laws by failing to disclose that:(1) Exide was polluting
the environment with potentially fatal levels of arsenic, and exposing almost
110,000 residents near its Vernon, California battery recycling facility to
dangerously high levels of pollutants; and (2) based on actual and projected
revenues and expenses it would not be able to meet its debt repayment
obligations and other pledges and promises under its debt agreements and
On March 22, 2013, one of Exide's recycling facilities in Vernon, California,
located approximately four miles due south of downtown Los Angeles, was cited
by the South Coast Air Quality Management District (the "Agency") as posing a
greater cancer risk to residents of Southern California than any of the more
than 450 facilities the Agency had regulated over the past 25 years.
Following the Agency's citation, 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 by the Company's environmental
On April 4, 2013, news source Debtwire.com published a report that Exide had
hired financial advisory firm Lazard and the law firm of Akin Gump LLP, both
bankruptcy experts, to advise on its financial restructuring after prior
restructuring efforts stalled. On this news, Exide's shares fell $1.24 per
share, approximately 46%, on April 4, 2013, before trading in the stock was
Request more information now by clicking here: www.faruqilaw.com/XIDE. There
is no cost or obligation to you.
If you invested in Exide stock or options between February 9, 2012 and April
3, 2013 and would like to discuss your legal rights, visit
www.faruqilaw.com/XIDE. You can also contact us by calling Richard Gonnello
or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by
sending an e-mail to email@example.com or firstname.lastname@example.org.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Exide's
conduct to contact the firm, including whistleblowers, former employees,
shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is
Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or
predict a similar outcome with respect to any future matter. We welcome the
opportunity to discuss your particular case. All communications will be
treated in a confidential manner.
FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Francis McConville, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
SOURCE Faruqi & Faruqi, LLP
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