The Rosen Law Firm, P.A. today announced a class action lawsuit has been filed on behalf of investors who purchased common stock Maxwell Technologies, Inc. (NASDAQ: MXWL) from April 28, 2011, to March 7, 2013, seeking remedies under the federal securities laws.
To join the Maxwell class action, visit the firm's website at
, or call Jonathan Horne, Esq., toll-free, at 866-767-3653; you may also email
for information on the class action. The case is pending the U.S. District Court for the Southern District of New York.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
On March 7, 2013, Maxwell issued a press release disclosing that it would be restating its previously issued financial statements for fiscal years 2011 and 2012, because those financial statements overstated revenue by approximately $12.0 million in the aggregate. As a result, Maxwell's Vice President of Sales and Marketing resigned, and its stock price fell by 11%, closing at $8.10 per share on March 8, 2013. On March 19, 2013, Maxwell announced that its registered independent auditor had resigned the previous day. The auditor stated that because of information it had uncovered, it could no longer rely on management's or certain particular third parties' representations.
If you wish to serve as lead plaintiff, you must move the Court no later than May 13, 2013. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Jonathan Horne, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at
. You may also visit the firm's website at
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.