Upcoming Deadline: The Law Firm Of Levi & Korsinsky Notifies Investors With Losses On Their Investment In New Energy Systems Group Of Class Action Lawsuit And The Deadline Of April 10, 2012 To Seek A Lead Plaintiff Position
NEW YORK, April 9, 2012 /PRNewswire/ -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased New Energy Systems Group ("New Energy" or the "Company") (AMEX: NEWN) stock between April 15, 2010 and November 14, 2011. For more information, click here: http://zlk.9nl.com/new-energy-systems-group-newn. There is no cost or obligation to you. The complaint alleges that during the Class Period, the Company issued materially false and misleading statements in its filings with the SEC. These statements included, among other things: (a) that the Company had a loyal customer base when it did not; (b) that the Company manufactured quality products when it did not; and that (c) the demand for batteries would remain profitable. The complaint further alleges that the Company failed to disclose the adverse effect of counterfeit products on Company sales. As a result of the aforementioned, the Company's battery business had materially declined and the goodwill associated with the Company's battery business had become worthless. If you suffered a loss in New Energy you have until April 10, 2012to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/new-energy-systems-group-newn. 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. Attorney advertising. Prior results do not guarantee similar outcomes.
Shares of New Energy Systems Group (AMEX:NEWN) have taken a tremendous swing upward. The stock is trading at $1.69 as of 10:06 a.m. ET, 24.3% above Tuesday's closing price of $1.36. Volume is at 81,960, 0.2 times the daily average of 457,800.
Shares of New Energy Systems Group (AMEX:NEWN) were gapping down Tuesday morning with an open price 10.9% lower than Monday's closing price. The stock closed at $3.40 yesterday and opened today's trading at $3.03.
Shares of New Energy Systems Group (AMEX:NEWN) were gapping down Monday morning with an open price 10% lower than Friday's closing price. The stock closed at $2.60 yesterday and opened today's trading at $2.34.