UPCOMING DEADLINE: Levi & Korsinsky Notifies Investors with Losses on Their Investment in Atlantic Power of Class Action Laws...
May 02 2013 - 3:36PM
Business Wire
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.
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.
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