Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has
Been Filed Against Active Power, Inc.
WILMINGTON, Del. -- September 12, 2013
Rigrodsky & Long, P.A.:
*Do you, or did you, own shares of Active Power, Inc. (NASDAQ CM: ACPW)?
*Did you purchase your shares before April 30, 2013, or between April 30,
2013 and September 5, 2013, inclusive?
*Did you lose money in your investment in Active Power, Inc.?
*Do you want to discuss your rights?
Rigrodsky & Long, P.A., including former Special Assistant United States
Attorney, Timothy J. MacFall, announces that a complaint has been filed in the
United States District Court for the Western District of Texas on behalf of
all persons or entities that purchased the common stock of Active Power, Inc.
(“Active Power” or the “Company”) (NASDAQ CM: ACPW) between April 30, 2013 and
September 5, 2013, inclusive (the “Class Period”), alleging violations of the
Securities Exchange Act of 1934 against the Company and certain of its
officers (the “Complaint”).
If you purchased shares of Active Power during the Class Period, or purchased
shares prior to the Class Period and still hold Active Power, and wish to
discuss this action or have any questions concerning this notice or your
rights or interests, please contact Timothy J. MacFall, Esquire or Peter
Allocco of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden
City, NY at (888) 969-4242, by e-mail to email@example.com, or at:
Active Power designs, manufactures and services uninterruptible power supply
(“UPS”) products and modular infrastructure solution (“MIS”) products that
provide electrical power continuity and integrated infrastructure platforms
for data centers and other mission critical applications. 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 the defendants concealed from the investing public that the
Company did not maintain a strategic distribution partnership with Digital
China Information Service Company Limited (“Digital China”), the largest IT
solutions provider in China. As a result of defendants’ false and misleading
statements, the Company’s stock traded at artificially inflated prices during
the Class Period.
According to the Complaint, on April 30, 2013, the Company announced during a
conference call that it had entered into a strategic distribution partnership
with Digital China. However, on September 5, 2013, after the close of trading,
the Company disclosed that its partnership was with Qiyuan Network System
Limited, which is neither an affiliate nor a subsidiary of Digital China.
Additionally, the Company added that “[w]hile we remain optimistic about our
long-term market opportunity in China, our experience this year in China has
been very disappointing and for now is unpredictable.”
On this news, shares in Active Power dropped more than 13%, closing at $3.02
per share on September 6, 2013, on unusually heavy trading volume of over 1.6
If you wish to serve as lead plaintiff, you must move the Court no later than
November 11, 2013. A lead plaintiff is a representative party acting on behalf
of other class members in directing the litigation. In order to be appointed
lead plaintiff, the Court must determine that the class member’s claim is
typical of the claims of other class members, and that the class member will
adequately represent the class. Your ability to share in any recovery is not,
however, affected by the decision whether or not to serve as a lead plaintiff.
Any member of the proposed class may move the court to serve as lead plaintiff
through counsel of their choice, or may choose to do nothing and remain an
absent class member.
While Rigrodsky & Long, P.A. did not file the Complaint in this matter, the
firm, with offices in Wilmington, Delaware and Garden City, New York,
regularly litigates securities class, derivative and direct actions,
shareholder rights litigation and corporate governance litigation, including
claims for breach of fiduciary duty and proxy violations in the Delaware Court
of Chancery and in state and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
Rigrodsky & Long, P.A.
Timothy J. MacFall, Esquire
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