A123 Systems Shareholder Alert by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Reminds Investors with Losses in ...
29 September 2013 - 12:00PM
Business Wire
Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former
Attorney General of Louisiana, Charles C. Foti, Jr., remind
investors that they have until November 26, 2013 to file
lead plaintiff applications in a securities class action lawsuit
against A123 Systems, Inc. (Nasdaq: AONE), if they purchased the
Company’s securities during the period between February 28, 2011
and October 16, 2012, inclusive (the “Class Period”). This action
is pending in the United States District Court for the Southern
District of New York.
What You May Do
If you purchased shares of A123 and would like to discuss your
legal rights and how this case might affect you and your right to
recover for your economic loss, you may, without obligation or cost
to you, call toll-free at 1-877-515-1850, or email KSF Managing
Partner Lewis Kahn (lewis.kahn@ksfcounsel.com) or KSF Partner Melinda
Nicholson (melinda.nicholson@ksfcounsel.com). If you wish to
serve as a lead plaintiff in this class action, you must petition
the Court by November 26, 2013.
About the Lawsuit
A123 sold battery systems. Its largest customer was Fisker
Automotive, Inc. (“Fisker”). The complaint charges certain of
A123’s officers and directors with issuing a series of materially
false and misleading statements about the Company’s business and
prospects, violating federal securities laws.
Specifically, it alleges that A123 failed to disclose, among
other things, that (i) Fisker’s ability to pay A123 was
compromised; (ii) A123’s investment in Fisker’s preferred stock was
materially impaired; and (iii) A123 was not on track to achieve the
financial results the market had been led to expect.
As the market became aware of such problems, the price of A123’s
stock declined from a Class Period high of $9.48 per share on
February 28, 2011 to pennies per share.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former
Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers
with significant experience litigating complex securities class
actions nationwide on behalf of both institutional and individual
shareholders, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLCLewis Kahn, Managing
Partnerlewis.kahn@ksfcounsel.comMelinda Nicholson,
Partnermelinda.nicholson@ksfcounsel.com1-877-515-1850
A123 Systems, Inc. (MM) (NASDAQ:AONE)
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