April 26, 2013
/PRNewswire/ -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of
on behalf of investors who purchased Maxwell Technologies, Inc. ("Maxwell" or the "Company") (NasdaqGS: MXWL) stock between
April 28, 2011
March 7, 2013
(the "Class Period").
For more information, click here:
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company's business, operations and prospects. Specifically, the Complaint alleges that: (a) Maxwell had overstated its revenues and earnings in 2011 and 2012 in violation of Generally Accepted Accounting Principles ("GAAP"); (b) Maxwell had reported revenues prior to the time the sales price was fixed and/or collection was reasonably assured; and (c) Maxwell's internal accounting controls were deficient and permitted the premature recognition of revenue, leading to materially misstated financial results. As a result of defendants' false and misleading statements, the Company's stock traded at artificially inflated prices during the Class Period.
March 7, 2013
, the Company issued a press release disclosing that it would be restating previously issued financial statements for 2011 and most of 2012. On this news, shares in Maxwell fell 11%, closing at
per share on
March 8, 2013
If you suffered a loss in Maxwell you have until
May 13, 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
or by telephone at (877) 363-5972, or visit
Levi & Korsinsky is a national firm with offices in
, 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: (866) 367-6510
SOURCE Levi & Korsinsky, LLP