NEW YORK, Sept. 20, 2013 (GLOBE NEWSWIRE) -- The Rosen Law Firm reminds purchasers of Active Power, Inc. (Nasdaq:ACPW) securities during the period from April 30, 2013 to September 5, 2013 inclusive (the "Class Period"), of the important November 11, 2013 class action deadline.
To join the Active Power class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim, Esq. or Jonathan Horne, Esq. toll-free, at 866-767-3653; you may also email at email@example.com or firstname.lastname@example.org for information on the class action. The lawsuit is pending in the U.S. District Court for the Western District of Texas.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the suit, Active Power issued materially false and misleading statements about its true business condition. On April 30, 2013, Active Power announced that it had entered into a "[n]ew strategic distribution partnership agreement with Digital China Information Service Limited, the largest IT solutions provider in China." The Company represented that this relationship with Digital China would allow the Company to increase its revenues and profitability, adding that "[w]e have already engaged with Digital China on large data center projects for which we anticipate field product deployment later this year." On September 5, 2013, after close of trading, the Company retracted its guidance, citing disappointing results in China. The Company added that the poor results were attributable to the fact that "the company's previously announced agreement in China is with Qiyuan Network System Limited, which the company's management discovered is neither an affiliate nor a subsidiary of Digital China Information Service Company Limited." According to the Complaint, this adverse news caused the price of Active Power stock to fall, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than November 11, 2013. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Jonathan Horne, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at email@example.com or firstname.lastname@example.org. You may also visit the firm's website at http://rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
CONTACT: Laurence M. Rosen, Esq. Phillip Kim, Esq. Jonathan Horne, Esq. The Rosen Law Firm P.A. 275 Madison Avenue 34th Floor New York, New York 10016 Tel: (212) 686-1060 Toll Free: 1-866-767-3653 Fax: (212) 202-3827 email@example.com firstname.lastname@example.org email@example.com www.rosenlegal.comSource: The Rosen Law Firm PA PC