The law firm of Lieff Cabraser Heimann & Bernstein, LLP is investigating potential illegal conduct as alleged in class action lawsuits brought on behalf of purchasers of the securities of Ener1, Inc. ("Ener1" or the "Company") (Nasdaq: HEV) between January 10, 2011 and August 15, 2011, inclusive (the "Class Period").
If you purchased Ener1 securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than October 17, 2011. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action. Ener1 shareholders who wish to learn more about the action and how to seek appointment as lead plaintiff should click here or contact Sharon Lee of Lieff Cabraser toll-free at (800) 541-7358.
Background on the Ener1 Securities Class Litigation
The actions are brought against Ener1 and certain of its officers and directors for violations of the Securities Exchange Act of 1934. Ener1, headquartered in New York, New York, designs, develops and manufactures high-performance batteries and battery pack systems. In 2009 and 2010, Ener1 made separate investments in electric vehicle manufacturer Think Global, AS ("Think Global") and its majority owner Think Holdings, AS ("Think Holdings").The Complaint alleges that throughout the Class Period, defendants failed to disclose: (1) that Think Global lacked adequate capital to continue operations; (2) the Company failed to timely impair the value of its Think Holdings investments; (3) the outstanding loans receivable and accounts receivable due from Think Holdings and Think Global were uncollectible; and (4) the Company's financial statements were materially misstated and its financial results were not prepared in accordance with Generally Accepted Accounting Principles ("GAAP").