SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Capstone T...
November 19 2015 - 5:11PM
Business Wire
Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of
Capstone Turbine Corporation (NASDAQ CM:
CPST)?
- Did you purchase your shares between
November 7, 2013 and November 5, 2015, inclusive?
- Did you lose money in your
investment?
Rigrodsky & Long, P.A. announces that a complaint has been
filed in the United States District Court for the Central District
of California on behalf of all persons or entities that purchased
the common stock of Capstone Turbine Corporation (“Capstone” or the
“Company”) (NASDAQ CM: CPST) between November 7, 2013 and November
5, 2015, inclusive (the “Class Period”), alleging violations of the
Securities Exchange Act of 1934 against the Company and certain of
its officers (the “Complaint”).
If you purchased shares of Capstone during the Class Period, or
purchased shares prior to the Class Period and still hold Capstone, and wish to discuss this
action or have any questions concerning this notice or your rights
or interests, please contact Timothy J. MacFall, Esquire or Peter
Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite
120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to
info@rl-legal.com; or at:
http://rigrodskylong.com/investigations/capstone-turbine-corporation-cpst.
The Complaint alleges that throughout the Class Period,
defendants made materially false and misleading statements, and
omitted materially adverse facts, about the Company’s business,
operations and prospects. As a result of defendants’ alleged false
and misleading statements, the Company’s stock traded at
artificially inflated prices during the Class Period.
According to the Complaint, on October 1, 2015, Capstone
released a press release disclosing that its preliminary second
quarter earnings were “notably below management’s expectations and
analysts’ consensus estimates as continued headwinds in the oil and
gas market and a strong U.S. dollar delayed orders and shipments in
the quarter.” The Company further disclosed that it “received no
significant payments from its Russian distributor, who until
recently was one of [its] largest customers.”
Then, on November 5, 2015, after the market closed, Capstone
disclosed its second quarter, 2015 results. The Company disclosed a
net loss of $7.9 million or $0.02 per share for the quarter.
On this news, shares in Capstone dropped over 9%, closing at
$0.20 per share on November 6, 2015, on heavy trading volume.
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. 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.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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version on businesswire.com: http://www.businesswire.com/news/home/20151119006750/en/
Rigrodsky & Long, P.A.Timothy J. MacFall, EsquirePeter
Allocco888-969-4242516-683-3516Fax:
302-654-7530info@rl-legal.comhttp://www.rigrodskylong.com
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