NEW YORK, May 10, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP has filed a class action lawsuit against Maxwell Technologies, Inc. ("Maxwell Technologies" or the "Company")(NASDAQ: MXWL) and certain of its officers. The class action filed in United States District Court, Southern District of California, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of Maxwell Technologies between April 28, 2011 and March 7, 2013, both dates inclusive of (the "Class Period"). This class action seeks to recover damages against the Company and certain of its officers and directors as a result of alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
If you are a shareholder who purchased Maxwell Technologies securities during the Class Period, you have until May 13, 2013 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at firstname.lastname@example.org or 888.476.6529 (or 888.4-POMLAW), toll free, x237. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.
Maxwell develops, manufactures and markets energy storage and power delivery products for transportation, industrial, telecommunications and other applications and microelectronic products for space and satellite applications.
The Complaint alleges that throughout the Class Period, Defendants issued a series of materially false and misleading statements regarding the Company's revenues and operations. These false and misleading statements included, overstating revenues and earnings for the years 2011 and 2012, recognizing revenue before a sales price was fixed or collection reasonably assured and not maintaining adequate internal accounting controls.
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