NEW YORK, June 3, 2014 /PRNewswire/ -- Pomerantz LLP
is investigating claims on behalf of investors of Advanced Energy
Industries, Inc. ("Advanced Energy" or the "Company")(NASDAQ:
AEIS). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com
or 888-476-6529, ext. 237.
The investigation concerns whether Advanced Energy and certain
of its officers and/or directors have violated Sections 10(b) and
20(a) of the Securities Exchange Act of 1934.
On May 6, 2014, Advanced Energy's
Solar Chief, Gordon Tredger,
resigned. Thereafter, On June 3,
2014, the Company's stock was downgraded from "Buy" to
"Hold" at Needham & Company. The downgrade follows an
announcement by the Company that Garry
Rogerson has decided to step down as the Company's
CEO. Rogerson has been viewed as the key figure in driving
the major operational changes to enable strong earnings growth and
leverage at the Company. Needham noted in its research report
announcement that it is concerned that multiple high-level
departures in such a short time could cause major disruption of the
business.
On this news, shares of Advanced Energy fell $1.26 per share to $17.74, or more than 6.47%, in intraday trading
on June 3, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San
Diego and Florida, is
acknowledged as one of the premier firms in the areas of corporate,
securities, and antitrust class litigation. Founded by the late
Abraham L. Pomerantz, known as the
dean of the class action bar, the Pomerantz Firm pioneered the
field of securities class actions. Today, more than 70 years later,
the Pomerantz Firm continues in the tradition he established,
fighting for the rights of the victims of securities fraud,
breaches of fiduciary duty, and corporate misconduct. The Firm has
recovered numerous multimillion-dollar damages awards on behalf of
class members. See www.pomerantzlaw.com.
CONTACT:
Robert S.
Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
SOURCE Pomerantz LLP