This Day On The Street
Continue to site
ADVERTISEMENT
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

The Rosen Law Firm Files Securities Fraud Class Action Against Active Power, Inc. – ACPW

The Rosen Law Firm, P.A. announces that it has filed a class action lawsuit on behalf of purchasers of Active Power, Inc. (NASDAQ:ACPW) securities during the period from April 30, 2013 to September 5, 2013, seeking to recover damages for violations of the federal securities laws.

To join the Active Power class action, visit the firm’s website at http://www.rosenlegal.com, or call Phillip Kim, Esq. or Jonathan Horne, Esq. toll-free, at 866-767-3653; you may also email at pkim@rosenlegal.com or jhorne@rosenlegal.com for information on the class action. The lawsuit is pending in the U.S. District Court for the Western District of Texas.

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 ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.

According to the suit, Active Power issued materially false and misleading statements about its business. On April 30, 2013, Active Power announced that it had entered into a "[n]ew strategic distribution partnership agreement with Digital China Information Service Limited, the largest IT solutions provider in China." The Company represented that this relationship with Digital China would allow the Company to increase its revenues and profitability, adding that "[w]e have already engaged with Digital China on large data center projects for which we anticipate field product deployment later this year." On September 5, 2013, after close of trading, the Company retracted its guidance, citing disappointing results in China. The Company attributed the poor to the fact that "the company's previously announced agreement in China is with Qiyuan Network System Limited, which the company's management discovered is neither an affiliate nor a subsidiary of Digital China Information Service Company Limited." According to the Complaint, this adverse news caused the price of Active Power stock to fall, damaging investors.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,175.94 -352.09 -2.13%
S&P 500 1,939.83 -32.35 -1.64%
NASDAQ 4,716.9520 -59.5560 -1.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs