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ECOtality Shareholder Alert: Briscoe Law and Powers Taylor Investigate Possible Breaches of Fiduciary Duty by Officers and

  ECOtality Shareholder Alert: Briscoe Law and Powers Taylor Investigate
  Possible Breaches of Fiduciary Duty by Officers and Directors

Business Wire

DALLAS -- August 23, 2013

Former United States Securities and Exchange Commission attorney Willie
Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation
firm of Powers Taylor, LLP announce that a federal class action lawsuit has
been filed against ECOtality, Inc. (“ECOtality” or “Company”) (NasdaqCM:
ECTY). The firms are investigating additional legal claims against the
officers and Board of Directors of ECOtality during the period of April 16,
2013 and August 9, 2013 (the “Class Period”).

If you are an affected investor and you want to learn more about the lawsuit
or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC,
(214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Zachary
Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at
shareholder@powerstaylor.com. There is no cost or fee to you.

In a recently filed federal class action complaint, ECOtality and certain of
its officers and directors were charged with violating certain provisions of
the Securities Exchange Act of 1934. Specifically, the complaint alleges that,
among other things, defendants misrepresented and/or failed to disclose that:
(a) some of ECOtality’s charging systems had been causing overheating and even
melting of connector plugs when charging vehicles, causing discord with
customers and potentially requiring that the Company replace all connector
plugs on approximately 12,000 stations due to design and manufacturing
defects; (b) although the Company was trying to transition its business model
from subsidizing installations of EVSEs under the EV Project to regular
commercial sales and installations, the Company was not achieving enough
commercial EVEC sales and installations to sustain operations in the second
half of 2013; (c) because of “unacceptable performance shortfalls during
prototype verification testing,” the Company was not able to meet the
scheduled release of new Minit Charger product for industrial customers in the
second half of 2013; (d) the Company was not able to secure the required
financing to meet its short-term and long-term capital needs because would-be
potential investors were unwilling to provide these additional funds; (e) due
to the inability to secure the financing needs, the Company would not be able
to meet its obligations to the DOE’s EV Project and the DOE would suspend all
payments to the Company; and (f) the Company was liable to the U.S. Department
of Labor (“DOL”) for $855,000 for the payment of back wages and damages due to
non-compliance with the nation’s labor laws. According to the complaint, when
the Company finally disclosed the above information, ECOtality’s shares
plummeted more than 87%.

The Briscoe Law Firm, PLLC is a full service business litigation, commercial
transaction, and public advocacy firm with more than 20 years of experience in
complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of
complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits, and
security class actions.

Contact:

The Briscoe Law Firm, PLLC
Willie Briscoe, 214-239-4568
WBriscoe@TheBriscoeLawFirm.com
or
Powers Taylor, LLP
Zachary Groover, 877-728-9607
shareholder@powerstaylor.com
 
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