- Do you, or did you, own shares of Maxwell Technologies, Inc. (NASDAQ GS: MXWL )?
- Did you purchase your shares before April 28, 2011, or between April 28, 2011 and March 7, 2013, inclusive?
- Did you lose money in your investment in Maxwell Technologies, Inc.?
- Do you want to discuss your rights?
According to the Complaint, during the Class Period, defendants issued materially false and misleading statements regarding the Company’s financial performance and business prospects and overstated the Company’s reported revenue. As a result of defendants’ false and misleading statements, Maxwell stock traded at artificially inflated prices during the Class Period, reaching a high of $21.20 per share on November 4, 2011.On March 7, 2013, after the market closed, the Company issued a press release disclosing that it would be restating previously issued financial statements for 2011 and most of 2012 due to errors related to the timing of recognition of revenue from sales to certain distributors. The Company further disclosed that the financial statements should no longer be relied upon. On this news, shares in Maxwell fell 11%, closing at $8.10 per share on March 8, 2013, from a close of $9.11 per share on March 7, 2013, on volume of over 1.7 million shares. If you wish to serve as lead plaintiff, you must move the Court no later than May 13, 2013. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. While Rigrodsky & Long, P.A. did not file the Complaint in this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States. Attorney advertising. Prior results do not guarantee a similar outcome.