NEW YORK, Feb. 21, 2012 /PRNewswire/ -- Faruqi &
Faruqi, LLP, a leading national securities law firm, is
investigating potential securities fraud at New Energy Systems
Group ("New Energy" or the "Company") (AMEX: NEWN).
(Logo:
http://photos.prnewswire.com/prnh/20120119/MM38856LOGO )
The investigation focuses on whether the Company and its
executives violated federal securities laws by failing to disclose
that: (1) New Energy inaccurately depicted itself as
possessing a loyal customer base; (2) Company products were of
lesser quality than advertised; (3) the Company would not continue
to receive substantial orders from its customers; and (4) the
battery business would be unprofitable due to deficient battery
quality and weak distribution networks.
Request more information now by clicking here:
www.faruqilaw.com/NEWN
Take Action
If you purchased New Energy securities between April 15, 2010 and November 14, 2011 and would like to discuss your
legal rights, visit www.faruqilaw.com/NEWN. You can also
contact us by calling Richard
Gonnello or Francis
McConville toll free at 877-247-4292 or at 212-983-9330 or
by sending an e-mail to rgonnello@faruqilaw.com or
fmcconville@faruqilaw.com. Faruqi & Faruqi, LLP also
encourages anyone with information regarding New Energy's conduct
to contact the firm, including whistleblowers, former employees,
shareholders and others.
Attorney Advertising. The law firm responsible for this
advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or
predict a similar outcome with respect to any future matter.
We welcome the opportunity to discuss your particular case.
All communications will be treated in a confidential matter.
FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello,
Esq.
rgonnello@faruqilaw.com
Francis McConville, Esq.
fmcconville@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
SOURCE Faruqi & Faruqi, LLP