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
Upcoming Deadline: The Law Firm Of Levi & Korsinsky Notifies Investors With Losses On Their Investment In A123 Systems Inc. Of Class Action Lawsuit And The Deadline Of June 1, 2012 To Seek A Lead Plaintiff Position
May 21, 2012 /PRNewswire/ -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the District of
Massachusetts on behalf of investors who purchased A123 Systems, Inc. ("A123" or the "Company") (Nasdaq: AONE) securities between
February 28, 2011 and
March 23, 2012.
For more information, click here:
The Complaint alleges that throughout the Class Period, defendants made false and/or misleading statements, or failed to disclose material information regarding manufacturing flaws in its
Livonia, Michigan facility. In a
March 26, 2012 press release, the Company announced that it would be replacing defective battery modules and packs. According to the press release, the company anticipated spending approximately
$55 million over the following quarters. Upon this news, shares of A123 stock fell approximately 12 percent. Then, on
March 28, 2012, an analyst at Deutsche Bank wrote that the Company may have difficulty raising capital and could lose contracts as a result of the recall. On this news, the price of the company's stock declined
$0.18 per share, or 13 percent, to close at
$1.22 per share.
If you suffered a loss in A123 you have until
June 1, 2012to 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
firstname.lastname@example.org or by telephone at (877) 363-5972, or visit
Levi & Korsinsky is a national firm with offices in
New York 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. For more information, please feel free to contact any of the attorneys listed below. 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) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171
SOURCE Levi & Korsinsky