Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the Western District of Texas on behalf of a class (the “Class”) comprising all purchasers of the common stock of Active Power, Inc. (“Active Power” or the “Company”) (NASDAQ:ACPW) between April 30, 2013 and September 5, 2013, inclusive (the “Class Period”).
Active Power designs, manufactures and services uninterruptible power supply products and integrated infrastructure platforms for data centers and other applications. On April 30, 2013 the Company announced that Active Power had entered into a strategic distribution partnership agreement with Digital China Information Service Company Limited, which it described as “the largest IT solutions provider in China,” and that this partnership would allow the Company to increase its revenues and profitability.
Then, on September 5, 2013, the Company disclosed that the April 30, 2013 announcement was erroneous, and that Active Power had entered into a partnership agreement with an entity that is neither an affiliate nor a subsidiary of Digital China Information Service Company Limited. Following this news, Active Power shares declined $0.48 per share, or 13.71%, to close on September 6, 2013 at $3.02 per share, on unusually heavy trading volume.
If you are a member of the Class described above you may move the Court no later than November 11, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. No class has yet been certified in this action. Until a class is certified, you are not represented by counsel unless you retain one. To be a member of the Class you need not take any action at this time or you may retain counsel of your choice. If you purchased Active Power stock prior to the Class Period and have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.