Glancy Binkow & Goldberg Announces an October 14, 2013 Lead Plaintiff Deadline
in the Class Action Lawsuit Against ECOtality, Inc.
LOS ANGELES, Sept. 21, 2013 (GLOBE NEWSWIRE) -- Glancy Binkow & Goldberg LLP,
representing investors of ECOtality, Inc. ("ECOtality" or the "Company")
(Nasdaq:ECTY), announces that all purchasers of ECOtality securities between
April 16, 2013 and August 9, 2013, inclusive (the "Class Period'), have until
October 14, 2013 to file a motion to be appointed as lead plaintiff in the
shareholder lawsuit filed in the United States District Court for the Northern
District of California.
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW &
GOLDBERG LLP. PLEASE CONTACT US AT (212) 682-5340, TOLL-FREE AT (888)
773-9224, OR AT SHAREHOLDERS@GLANCYLAW.COM TO DISCUSS THIS MATTER OR IF YOU
PURCHASED ECOTALITY SECURITIES PRIOR TO THE CLASS PERIOD. IF YOU INQUIRE BY
EMAIL PLEASE INCLUDE YOUR MAILING ADDRESS, TELEPHONE NUMBER AND NUMBER OF
ECOtality manufactures and sells charging systems for electric vehicles (EV),
including the Minit-Charger line of fast-charge systems for off-road
industrial applications. In 2009, the Company received a $100 million grant
from the United States Department of Energy (DOE) to manage the "EV Project" –
a charging infrastructure research and EV-deployment initiative. The Complaint
alleges that during the Class Period defendants issued false and misleading
statements or failed to disclose that: (1) the Company was facing an impending
shutdown of funds from the DOE; (2) the Company was inappropriately
recognizing revenue and drawing down expenses on its contract with the DOE;
(3) the Company's products contained significant design and manufacturing
defects; (4) the Company lacked adequate internal controls over financial
reporting; and (5) as a result of the foregoing, the Company's statements were
materially false and misleading at all relevant times.
If you are a member of the Class described above, you may move the Court no
later than October 14, 2013 to serve as lead plaintiff; however, you must meet
certain legal requirements. To be a member of the Class you need not take any
action at this time; you may retain counsel of your choice or take no action
and remain an absent member of the Class.
To learn more about this action or if you purchased ECOtality securities prior
to the Class Period and have any questions concerning this Notice 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.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
CONTACT: Glancy Binkow & Goldberg LLP, Los Angeles, CA
Glancy Binkow & Goldberg LLP, New York, NY
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