This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cohen Milstein Sellers & Toll PLLC Announces Investigation Of A-Power Energy Generation Systems, Ltd.

Cohen Milstein Sellers & Toll PLLC is conducting an investigation to determine whether A-Power Energy Generation Systems, Ltd. (“APWR” or the “Company”) and certain of its officers and directors made false and misleading statements and/or omissions in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

Class action lawsuits have been filed in the U.S. District Courts for the Central District of California and the District of Nevada by other law firms on behalf of purchasers of the common stock of A-Power Energy Generation Systems, Ltd. (NASDAQ:APWR) between March 31, 2008 and June 27, 2011, inclusive (the “Class Period”).

A-Power Energy Generation Systems, Ltd., through its subsidiaries, purports to be the largest provider of distributed power generation systems in China, focusing on the design, construction, and installation of distributed generation systems in China.

The complaints allege that APWR and certain of its officers and/or directors (“Defendants”) misrepresented and/or failed to disclose that: (1) APWR improperly accounted for its related-party transactions such that its financial statements were presented in violation of U.S. Generally Accepted Accounting Principles; and (2) APWR’s revenues and income were materially overstated.

On March 28, 2011, the Company announced that its 2010 earnings call would be postponed to a date not yet determined to allow auditors to complete work on the Company’s financial statements and audit, but insisted that the delay was not due to any accounting errors or irregularities. However, between June 17 and July 5, three independent directors of the Company and its CFO left the Company. One director resigned “as a result of concerns that his views on process and best practices were not necessarily shared throughout the Company.” On June 17, 2011 Seeking Alpha published an article on APWR, which discussed the Company’s alleged internal control weaknesses and discrepancies between the revenues and profits reported in the U.S. versus those reported in China. On June 27, 2011, the Company announced that its auditor, MSCM LLP, had resigned, and that APWR would be unable to timely file its 2010 Form 20-F. Trading in the Company’s stock was halted just prior to this June 27 announcement, with APWR shares priced at $1.67. The shares have not traded since June 27.

Cohen Milstein encourages all investors who purchased APWR common stock or former employees with information concerning this matter to contact the firm.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs