EQUITY ALERT: Rosen Law Firm Announces Securities Class Action Lawsuit Against Capstone Turbine Corp.
November 17 2015 - 5:26PM
Business Wire
Rosen Law Firm, a global investor rights law firm, announces the
filing of a class action lawsuit on behalf of purchasers of
Capstone Turbine Corp. (NASDAQ: CPST) securities from November 7,
2013 through November 5, 2015, all dates inclusive (the “Class
Period”). The lawsuit seeks to recover damages for Capstone
investors under the federal securities laws.
To join the Capstone class action, go to the firm’s website at
http://www.rosenlegal.com/cases-788.html or call Phillip Kim, Esq.
or Kevin Chan, Esq. toll-free at 866-767-3653 or email
pkim@rosenlegal.com or kchan@rosenlegal.com for information on the
class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A
CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU
RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO
NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, throughout the Class Period defendants
issued materially false and misleading statements to investors
and/or failed to disclose that: (1) BPC Engineering (“BPC”), one of
Capstone’s main Russian distributors, was unlikely to be able to
fulfill many of its legal and financial obligations to Capstone;
(2) 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) Capstone issued financial
statements in violation of Generally Accepted Accounting
Principles; (4) Capstone lacked adequate internal controls over
accounting; and (5) as a result of the foregoing, defendants’
public statements about Capstone’s business, operations, and
prospects were false and misleading and/or lacked a reasonable
basis at all relevant times. When the true details entered the
market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to
serve as lead plaintiff, you must move the Court no later than
January 15, 2016. A lead plaintiff is a representative party acting
on behalf of other class members in directing the litigation. If
you wish to join the litigation, go to the firm’s website at
http://www.rosenlegal.com/cases-788.html or to discuss your rights
or interests regarding this class action, please contact Phillip
Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at
866-767-3653 or via e-mail at pkim@rosenlegal.com or
kchan@rosenlegal.com.
Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
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version on businesswire.com: http://www.businesswire.com/news/home/20151117007034/en/
The Rosen Law Firm, P.A.Laurence Rosen, Esq.Phillip Kim,
Esq.Kevin Chan, Esq.275 Madison Avenue, 34th FloorNew York, NY
10016Tel: 212-686-1060Toll Free: 866-767-3653Fax:
212-202-3827lrosen@rosenlegal.compkim@rosenlegal.comkchan@rosenlegal.comwww.rosenlegal.com
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