The
Shuman Law Firm announces that it is investigating potential claims
against certain officers and directors of Maxwell Technologies, Inc.
(“Maxwell” or the “Company”) (Nasdaq: MXWL).
Maxwell is a California-based company that develops, manufactures, and
markets energy storage and power delivery products, and microelectronic
products worldwide.
The Firm’s investigation relates to the Company’s March 7, 2013,
announcement that the Company would be restating 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.
The announcement further disclosed that the Company’s financial
statements should no longer be relied upon. On this news, Maxwell’s
stock price dropped $1.01 per share on March 8, 2013 to close at $8.10
per share, a one-day decline of 11% on volume of 1.7 million shares, and
a 62% decline from the stock’s recent high.
If you currently own Maxwell common stock and are interested in
discussing your rights as a shareholder, or have information relating to
this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll
free at (866) 974-8626 or email Mr. Shuman at kip@shumanlawfirm.com
or email Mr. Glenn at rusty@shumanlawfirm.com.
The Shuman Law Firm represents investors throughout the nation,
concentrating its practice in stockholder litigation.
Copyright Business Wire 2013