BENSALEM, Pa., April 28, 2013 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the Southern District of California on behalf of a class (the "Class") comprising all purchasers of the common stock of Maxwell Technologies, Inc. ("Maxwell" or the "Company") (Nasdaq:MXWL) between April 28, 2011 and March 7, 2013, inclusive (the "Class Period"). Investors who have losses of $100,000 or more are encouraged to contact the firm for information concerning a lead plaintiff position in the shareholder lawsuit and have until May 13, 2013 to file a motion with the Court to be appointed as lead plaintiff.
Maxwell develops, manufactures, and markets energy storage and power delivery products, and microelectronic products worldwide. The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company's business, operations and prospects. Specifically, the Complaint alleges that: (a) Maxwell had overstated its revenues and earnings in 2011 and 2012 in violation of Generally Accepted Accounting Principles ("GAAP"); (b) Maxwell had reported revenues prior to the time the sales price was fixed and/or collection was reasonably assured; and (c) Maxwell's internal accounting controls were deficient and permitted the premature recognition of revenue, leading to materially misstated financial results. As a result of defendants' false and misleading statements, the Company's stock traded at artificially inflated prices during the Class Period.
If you are a member of the Class described above, you have certain rights, and have until May 13, 2013 to move for lead plaintiff status. To be a member of the Class you need not take any action at this time, or may retain counsel of your choice. If you wish to discuss this action or learn more concerning your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.