The law firm of Lieff Cabraser Heimann & Bernstein, LLP reminds investors of the upcoming October 17, 2011 deadline to move for appointment as lead plaintiff in the securities class action lawsuits against Ener1, Inc. (“Ener1” or the “Company”) (Nasdaq: HEV). The actions are brought on behalf of purchasers of Ener1 securities between January 10, 2011 and August 15, 2011, inclusive (the “Class Period”). If you purchased Ener1 securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than October 17, 2011. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action. Ener1 shareholders who wish to learn more about the action and how to seek appointment as lead plaintiff should click here or contact Sharon Lee of Lieff Cabraser toll free at (800) 541-7358. The actions allege that throughout the Class Period, defendants made materially false and misleading statements regarding Ener1’s financial condition and prospects. On June 22, 2011, Ener1 disclosed that a material charge was required in connection with the loans receivable of Think Holdings and accounts receivable of Think Global, companies in which Ener1 had invested, on the basis of Think Global’s announcement that it will file for bankruptcy. On August 15, 2011, Ener1 disclosed that its financial statements for 2010 and the first quarter of 2011 should be restated and no longer be relied upon. On this news, shares of Ener1 fell another $0.33 per share, or 42.31%, to close on August 16, 2011 at $0.45 per share. About Lieff Cabraser Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York and Nashville, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.
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.