Levi & Korsinsky is investigating Advanced Battery Technologies, Inc. (“ABAT” or the “Company”) (Nasdaq: ABAT) to determine whether it has violated federal securities laws by issuing false and misleading statements. On March 30, 2011, equity research firm Variant View Research (“Variant”) published a report informing investors of potential securities law violations at ABAT, including that (a) ABAT failed to disclose material facts about certain multi-million dollar acquisitions; (b) ABAT claims distribution relationships which appear to be fabricated; and (c) the Company misrepresented its and/or its Chairman’s ownership of an ABAT subsidiary. Following this report, shares of ABAT fell 40% to close at $2.09 per share. If you own shares of ABAT stock and wish to obtain additional information about the investigation and your legal rights, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/advanced-battery-technologies-abat.html. Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Shares of Advanced Battery Technologies (Nasdaq:ABAT) have taken a tremendous swing upward. The stock is trading at $1.55 as of three p.m. ET, 20.2% above Friday's closing price of $1.29. Volume is at 3.1 million, 1.2 times the daily average of 2.6 million.