Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against Active
LOS ANGELES -- September 17, 2013
Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been
filed in the United States District Court for the Western District of Texas on
behalf of a class (the “Class”) comprising all purchasers of the common stock
of Active Power, Inc. (“Active Power” or the “Company”) (NASDAQ:ACPW) between
April 30, 2013 and September 5, 2013, inclusive (the “Class Period”).
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW &
GOLDBERG LLP. PLEASE CONTACT US TOLL-FREE AT (888) 773-9224, OR AT (212)
682-5340, OR BY EMAIL TO SHAREHOLDERS@GLANCYLAW.COM TO DISCUSS THIS MATTER. IF
YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR MAILING ADDRESS, TELEPHONE NUMBER AND
NUMBER OF SHARES PURCHASED.
Active Power designs, manufactures and services uninterruptible power supply
products and integrated infrastructure platforms for data centers and other
applications. The Complaint alleges that defendants issued materially
misleading statements concerning Active Power’s business, operations and
financial prospects. On April 30, 2013 the Company announced that Active Power
had entered into a strategic distribution partnership agreement with Digital
China Information Service Company Limited, which it described as “the largest
IT solutions provider in China,” and that this partnership would allow the
Company to increase its revenues and profitability.
Then, on September 5, 2013, the Company disclosed that the April 30, 2013
announcement was erroneous, and that actually Active Power had entered into a
partnership agreement with an entity that is neither an affiliate nor a
subsidiary of Digital China Information Service Company Limited. Following
this news, Active Power shares declined $0.48 per share, or 13.71%, to close
on September 6, 2013 at $3.02 per share, on unusually heavy trading volume.
If you are a member of the Class described above you may move the Court no
later than November 11, 2013 to serve as lead plaintiff; however, you must
meet certain legal requirements.
If you wish to learn more about this action or have any questions concerning
this announcement or your rights or interests with respect to these matters,
please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP,
1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll Free
at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow &
Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at
(212) 682-5340, by e-mail to firstname.lastname@example.org, or visit our website
at http://www.glancylaw.com. If you inquire by email please include your
mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP, Los Angeles, CA
Glancy Binkow & Goldberg LLP, New York, NY
(212) 682-5340 or (888) 773-9224
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