Glancy
Binkow & Goldberg LLP, representing investors of ECOtality,
Inc. (“ECOtality” or the “Company”) (NASDAQ:ECTY), announces that
all purchasers of ECOtality securities between April 16, 2013 and August
9, 2013, inclusive (the “Class Period’), have until October 14, 2013 to
file a motion to be appointed as lead plaintiff in the shareholder
lawsuit filed in the United States District Court for the Northern
District of California.
A COPY OF THE COMPLAINT
IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW & GOLDBERG LLP. PLEASE
CONTACT US AT (212) 682-5340, TOLL-FREE AT (888) 773-9224, OR AT SHAREHOLDERS@GLANCYLAW.COM
TO DISCUSS THIS MATTER OR IF YOU PURCHASED ECOTALITY SECURITIES PRIOR TO
THE CLASS PERIOD. IF YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR MAILING
ADDRESS, TELEPHONE NUMBER AND NUMBER OF SHARES PURCHASED.
ECOtality manufactures and sells charging systems for electric vehicles
(EV), including the Minit-Charger line of fast-charge systems for
off-road industrial applications. In 2009, the Company received a $100
million grant from the United States Department of Energy (DOE) to
manage the “EV Project” – a charging infrastructure research and
EV-deployment initiative. The Complaint alleges that during the Class
Period defendants issued false and misleading statements or failed to
disclose that: (1) the Company was facing an impending shutdown of funds
from the DOE; (2) the Company was inappropriately recognizing revenue
and drawing down expenses on its contract with DOE; (3) the Company's
products contained significant design and manufacturing defects; (4) the
Company lacked adequate internal controls over financial reporting; and,
(5) as a result of the foregoing, the Company's statements were
materially false and misleading at all relevant times.
If you are a member of the Class described above you may move the Court
no later than October 14, 2013 to serve as lead plaintiff; however, you
must meet certain legal
requirements. To be a member of the Class you need not take any
action at this time; you may retain counsel of your choice or take no
action and remain an absent member of the Class.
To learn
more about this action or if you purchased ECOtality securities
prior to the Class Period and have any questions concerning this Notice
or your rights or interests with respect to these matters, please
contact Michael
Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century
Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at (888)
773-9224, or contact Gregory
Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd
Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by
e-mail to shareholders@glancylaw.com,
or visit our website at http://www.glancylaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Copyright Business Wire 2013