Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Ener 1, Inc. (“Ener 1” or the “Company”) (NASDAQ: HEV), concerning whether the company and certain of its officers and directors have violated federal securities laws. The investigation relates to Ener 1’s August 15 th, 2011 disclosure that the Audit Committee of the Board of Directors of Ener 1, based upon a recommendation from management, determined that Company’s financial statements for year ending December 31, 2010 and quarterly period ended March 31, 2011, respectively should be restated and no longer relied upon. The company will need to restate its financial statements to reflect as of December 31, 2010 the impairments of its investment in Think Holdings (which had previously been recorded in the first quarter of 2011), its accounts receivable with Think Global and its loans receivable with Think Holdings, including accrued interest. On that news, the company’s stocks price dropped approximately 30 cents, or 42.25% to close at approximately 45 cents. If you are aware of any facts relating to this investigation, or purchased shares of Ener 1, you can assist this investigation by contacting either Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate work, private securities offerings, and securities arbitration.
Shares of Ener1 (Nasdaq:HEV) were gapping down Wednesday morning with an open price 19.2% lower than Tuesday's closing price. The stock closed at 26 cents yesterday and opened today's trading at 21 cents.