INVESTOR ALERT: GPM Files Securities Class Action Lawsuit Against Capstone Turbine Corp.
November 16 2015 - 8:37PM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) announces that it has
filed a class action lawsuit in the United States District Court
for the Central District of California on behalf of a class (the
“Class”) of purchasers of the securities of Capstone Turbine
Corp. (“Capstone” or the “Company”) (Nasdaq: CPST) between November
7, 2013 and November 5, 2015, inclusive (the “Class Period”).
Shareholders have 60 days from the date of this notice to file a
motion to be appointed as lead plaintiff in the shareholder
lawsuit.
Please contact Lesley Portnoy at 888-773-9224 or 310-201-9150,
or at shareholders@glancylaw.com to discuss this matter. If you
inquire by email, please include your mailing address, telephone
number, and number of shares purchased.
Capstone develops, manufactures, markets and services
microturbine technology solutions for use in stationary distributed
power generation applications, including cogeneration (combined
heat and power, integrated combined heat and power, and combined
cooling, heat and power), renewable energy, natural resources and
critical power supply.
The Complaint alleges that throughout the Class Period,
Defendants made false and/or misleading statements and/or failed to
disclose the following: (1) that BPC Engineering (“BPC”), one of
the Company’s main Russian distributors, was unlikely to be able to
fulfill many of its legal and financial obligations to Capstone;
(2) that Capstone failed to make appropriate adjustments to its
accounts receivable and backlog to account for BPC’s inability to
fulfill its obligations to Capstone; (3) that Capstone issued
financial statements in violation of Generally Accepted Accounting
Principles (“GAAP”); (4) that the Company lacked adequate internal
controls over accounting; and (5) that, as a result of the
foregoing, the Company’s financial statements, as well as
Defendants’ statements about Capstone’s business, operations, and
prospects, were false and misleading and/or lacked a reasonable
basis.
If you are a member of the Class described above, you may move
the Court no later than January 15, 2016 to serve as lead
plaintiff, if you meet certain legal requirements. To be a member
of the Class you need not take any action at this time; you may
retain counsel of your choice or take no action and remain an
absent member of the Class. If you wish to learn
more about this action, or if you have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy,
Esquire, of Glancy Prongay & Murray LLP, 1925 Century Park
East, Suite 2100, Los Angeles, California 90067, at (310) 201-9150,
by e-mail to shareholders@glancylaw.com, or visit our website
at http://www.glancylaw.com. If you inquire by email, please
include your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20151116006664/en/
Glancy Prongay & Murray LLP, Los AngelesLesley Portnoy,
310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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