Milberg LLP announces that class action lawsuits have been filed in the United States District Court for the Southern District of California on behalf of purchasers of Maxwell Technologies, Inc. (“Maxwell”) (NASDAQ:MXWL) common stock between April 28, 2011 and March 7, 2013, inclusive (the “Class Period”).
Milberg LLP has created a website (www.maxwelltechnologieslawsuit.com) that seeks to answer questions about shareholder class actions.
The lawsuit alleges Maxwell and certain of its officers and directors violated the Securities Exchange Act of 1934. The complaint claims Maxwell issued materially false and misleading statements which led to an inflated stock price during the Class Period.
On March 7, 2013, Maxwell issued a press release disclosing that it will need to restate previously issued financial statements for 2011 and most of 2012 due to errors related to the timing of recognition of revenue from sales to certain distributors.
On this news, Maxwell's share price fell more than 11% to close at $8.10 per share on March 8, 2013.
On March 20, 2013, shares of Maxwell fell another 20.56% after announcing a delay in filing its 10-K with the Securities and Exchange Commission.
If you purchased Maxwell shares during the Class Period you may, no later than May 13, 2013, request that the Court appoint you lead plaintiff. A lead plaintiff is a class member that directs the litigation. Your share in any recovery will not be affected by serving as a lead plaintiff. You do not need to be a lead plaintiff to recover. You may retain Milberg LLP, or other attorneys, for this action, but do not need to retain counsel to recover. If this action is certified as a class action, class members will be automatically represented by Court-appointed counsel. The complaints in this action were not filed by Milberg.
If you wish to discuss this matter with us, please contact the following attorney:
|Andrei Rado, Esq.|
|One Pennsylvania Plaza, 49th Fl.|
|New York, NY 10119-0165|
|Phone number: 800-320-5081|
Milberg LLP has represented individual and institutional investors for over four decades and serves as lead counsel in Courts throughout the United States. Visit the Milberg website (www.milberg.com) for more information about the firm.
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