ECOtality, Inc. SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Class
Action Against ECOtality, Inc. and Its Board of Directors and a Lead Plaintiff
Deadline of October 14, 2013 -- ECTY
NEW YORK, Oct. 1, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a
class action lawsuit has been commenced in the United States District Court
for the Northern District of California on behalf of investors who purchased
ECOtality, Inc. ("ECOtality" or the "Company") (Nasdaq:ECTY) stock between
April 16, 2013 and August 9, 2013.
For more information, click here: http://zlk.9nl.com/ecotality-ecty/.
In 2009, ECOtality received a $100 million grant from the United States
Department of Energy (DOE) to manage the "EV Project," a charging
infrastructure research and Electric Vehicle deployment initiative. The
complaint alleges that during the Class Period defendants issued false and
misleading statements and/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 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.
Shares of ECOtality have fallen from a close of $1.46 per share on August 9,
2013, to a most recent close of $0.17 per share on August 20, 2013.
If you suffered a loss in ECOtality you have until October 14, 2013 to request
that the Court appoint you as lead plaintiff. Your ability to share in any
recovery doesn't require that you serve as a lead plaintiff. To obtain
additional information, contact Joseph E. Levi, Esq. either via email at
email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or
Levi & Korsinsky is a national firm with offices in New York, New Jersey,
Connecticut, and Washington D.C. The firm has extensive expertise in
prosecuting securities litigation involving financial fraud, representing
investors throughout the nation in securities and shareholder lawsuits.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
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