NEW YORK, April 23, 2013 /PRNewswire/ -- Levi &
Korsinsky announces that a class action lawsuit has been commenced
in the United States District Court for the District of
Massachusetts on behalf of
investors who purchased Atlantic Power Corporation ("Atlantic
Power" or the "Company") (TSX:ATP)(NYSE: AT) stock between
July 23, 2010 through March 4, 2013.
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For more information, click here:
http://zlk.9nl.com/atlantic-power-at/.
The complaint alleges that during the class period, defendants
issued materially false and misleading statements regarding the
Company's business practices and financial results. Specifically,
the complaint alleges that: (a) cash flows the Company was using to
pay a dividend payout were being funded by revenues derived from
companies Atlantic Power was spending millions of dollars to
acquire; (b) Atlantic Power's losses from operations were mounting,
jeopardizing the Company's ability to maintain the outsized
dividend payment; and (c) defendants knew that many of the
Company's project contracts were scheduled to expire over the
course of 2013, meaning cash flows from those projects would be
substantially lower after those contracts ended, and unbeknownst to
investors, Atlantic Power was not replacing those contracts –
further jeopardizing its ability to maintain the outsized dividend
payment that was supporting its stock price. As a result of
defendants' materially false and misleading statements, Atlantic
Power common stock traded at artificially inflated prices
throughout the class period.
If you suffered a loss in Atlantic Power you have until
May 7, 2013 to request that the Court
appoint you as lead plaintiff. Your ability to share in any
recovery doesn't require that you serve as a lead plaintiff. To
obtain additional information, contact Joseph E. Levi, Esq. either via email at
jlevi@zlk.com or by telephone at (877) 363-5972, or visit
http://zlk.9nl.com/atlantic-power-at/.
Levi & Korsinsky is a national firm with offices in
New York, New Jersey, and Washington D.C. The firm
has extensive expertise in prosecuting securities litigation
involving financial fraud, representing investors throughout the
nation in securities and shareholder lawsuits. Attorney
advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY
10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
www.zlk.com
SOURCE Levi & Korsinsky, LLP