Levi & Korsinsky Notifies Investors With Losses on Their Investment in Satcon Technology Corp. of Class Action Lawsuit and the S
26 July 2011 - 6:09AM
Marketwired
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 purchasers of Satcon Technology Corp.
("Satcon" or the "Company") (NASDAQ: SATC) common stock between
March 4, 2010 through July 5, 2011 (the "Class Period").
For more information, click here: http://zlk.9nl.com/SATC.
The complaint alleges that during the Class Period, defendants
issued materially false and misleading statements regarding the
Company's business practices and financial results. In particular,
defendants misrepresented and/or failed to disclose that: (a) the
Company was experiencing a decrease in sales; (b) due to changes in
government incentives, the Company's European market was performing
below expectations; (c) the Company failed to account properly for
its inventory; (d) as a result of the aforementioned, defendants
lacked sufficient basis for their positive statements regarding the
Company's prospects.
If you are a member of the class and suffered a loss in Satcon
stock, you have until September 16, 2011 to request that the Court
appoint you as lead plaintiff. Your ability to share in any
recovery is not affected by the decision whether or not to serve as
a lead plaintiff. To obtain additional information about your
rights, contact Joseph Levi, Esq. either via email at jlevi@zlk.com
or by telephone at (877) 363-5972, or visit
http://www.zlk.com/satcon-technology-satc.html.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. For more information, please feel free to contact any
of the attorneys listed below. Attorney advertising. Prior results
do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard
Korsinsky, Esq. 30 Broad Street - 15th Floor New York, NY 10004
Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171
www.zlk.com
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