Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline in the Class Action Lawsuit Against Maxwell Technologies, Inc.
Law Offices of Howard G. Smith announces that investors of Maxwell
Technologies, Inc. (“Maxwell” or the “Company”) (NASDAQ:MXWL) have until
May 13, 2013 to move the Court to serve as lead plaintiff in the
securities fraud class action lawsuit filed in the United States
District Court for the Southern District of California on behalf of a
class (the “Class”) comprising all purchasers of Maxwell common stock
between April 28, 2011 and March 7, 2013, inclusive (the “Class
Period”). 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 howardsmith@howardsmithlaw.com,
or visit our website at http://www.howardsmithlaw.com.
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