The Rosen Law Firm, P.A. announces that it is investigating potential securities claims against A-Power Energy Generation Systems, Ltd. (NASDAQ: APWR) resulting from allegations that the company may have issued materially misleading financial statements and business information to the investing public. On June 17, 2011 the Company issued a press release announcing that Robert B. Leckie had resigned from the Company’s Board of Directors “as a result of concerns that his views on process and best practices were not necessarily shared throughout the Company.” A-Power stated that the resignation was not prompted by any disagreement with A-Power on any matter relating to the Company’s operations, policies, or practices. Later in the day, however, an article was published on Seeking Alpha raising a number of red flags of fraud at the Company, including allegations that the 2009 financial statements filed by A-Power’s main subsidiaries with Chinese regulators showed less than one-tenth of the revenue and cash balances, which appear in A-Power’s financial statements filed with the SEC. The Rosen Law Firm is preparing a securities class action lawsuit on behalf of A-Power Energy Generation Systems, Ltd. securities to recover their investment losses. If you purchased A-Power securities, please visit the website at http://rosenlegal.com to participate in the class action and to obtain more information. You may also contact Phillip Kim of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at firstname.lastname@example.org. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Attorney Advertising. Prior results do not guarantee a similar outcome.
A-Power Energy Generation Systems (Nasdaq:APWR) hit a new 52-week low Monday as it is currently trading at $4.35, below its previous 52-week high of $11.15 with 4,406 shares traded as of 9:30 a.m. ET. Average volume has been 569,500 shares over the past 30 days.