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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Hagens Berman Reminds ECOtality Investors Of Oct. 15, 2013, Class-Action Deadline And Continuing Investigation

Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, today reminded investors of the Oct. 15, 2013, deadline to move to be a lead plaintiff in a securities class-action lawsuit against ECOtality, Inc., (NASDAQ: ECTY) and of the continuing investigation into whether ECOtality withheld critical information from investors. Investors are invited to inquire about their options with Hagens Berman attorneys by emailing ECTY@hbsslaw.com.

Investors who purchased ECTY common stock between April 16, 2013, and Aug. 9, 2013, (the “Class Period”) and suffered significant financial losses may also contact Hagens Berman Partner Reed Kathrein, who is leading the firm’s investigation, by calling (510) 725-3000. More information is available online at http://hb-securities.com/investigations/ECTY.

On June 19, 2013, ECOtality closed an $8.2 million private placement of over 5 million shares of common stock priced at $1.60 and warrants exercisable at $2.04 per share.

Two months later, on Aug. 12, 2013, the company announced several previously undisclosed production and financial problems. ECOtality also revealed it had hired a restructuring adviser to evaluate the company’s options, including a possible bankruptcy filing that could be made “in the very near future.”

Following the announcement the company’s stock price dropped more than 87 percent.

The lawsuit alleges that ECOtality concealed major issues, including: defects and performance shortfalls in some of its charging systems, the inability to release products as scheduled and a lack of sufficient commercial sales and investor funding to sustain the company’s operations.

“Our investigation seeks to discover what ECOtality knew and when,” said Hagens Berman Partner Reed Kathrein. “Considering the litany of issues ECOtality has been facing, it is suspect that only in August were investors made aware of something as catastrophic as a possible bankruptcy filing.”

Persons with non-public information may want to consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,083.42 -3.21 -0.02%
S&P 500 1,988.79 +1.78 0.09%
NASDAQ 4,474.0530 +0.3560 0.01%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs