SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders With Losses on
Their Investment in Ecotality, Inc. of Class Action Lawsuit and Upcoming
Deadline -- ECTY
NEW YORK, Sept. 30, 2013 (GLOBE NEWSWIRE) -- Pomerantz Grossman Hufford
Dahlstrom & Gross LLP has filed a class action lawsuit against Ecotality, Inc.
("Ecotality" or the "Company") (Nasdaq:ECTY) and certain of its officers. The
class action, filed in United States District Court, Northern District of
California, and docketed under 13-cv-03840, is on behalf of a class consisting
of all persons or entities who purchased or otherwise acquired securities of
Ecotality between April 16, 2012 and August 9, 2013 both dates inclusive (the
"Class Period"). This class action seeks to recover damages against the
Company and certain of its officers and directors as a result of alleged
violations of the federal securities laws pursuant to Sections 10(b) and 20(a)
of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
If you are a shareholder who purchased Ecotality securities during the Class
Period, you have until October 14, 2013 to ask the Court to appoint you as
Lead Plaintiff for the class. A copy of the Complaint can be obtained at
www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby
at email@example.com or 888.476.6529 (or 888.4-POMLAW), toll free, x237.
Those who inquire by e-mail are encouraged to include their mailing address,
telephone number, and number of shares purchased.
Ecotality, engages in designing, manufacturing, testing, and commercializing
electric vehicle (EV) charging and energy storage systems in the United States
The Complaint alleges that throughout the Class Period, Defendants made false
and/or misleading statements, as well as failed to disclose material adverse
facts about the Company's business, operations, and prospects. Specifically,
Defendants made false and/or misleading statements and/or failed to disclose
that: (1) the Company was facing an impeding shutdown of funds from the United
States Department of Energy ("DOE"); (2) the Company was inappropriately
recognizing revenue and drawing down expenses on its contract with 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.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego,
is acknowledged as one of the premier firms in the areas of corporate,
securities, and antitrust class litigation. Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the Pomerantz Firm
pioneered the field of securities class actions. Today, more than 70 years
later, the Pomerantz Firm continues in the tradition he established, fighting
for the rights of the victims of securities fraud, breaches of fiduciary duty,
and corporate misconduct. The Firm has recovered numerous multimillion-dollar
damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT: Robert S. Willoughby
Pomerantz Grossman Hufford Dahlstrom & Gross LLP
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