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.
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 email@example.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.
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
SOURCE Levi & Korsinsky, LLP