NEW YORK, Sept. 5, 2013 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that a class action lawsuit has been filed on behalf of purchasers of ECOtality, Inc (Nasdaq:ECTY) stock during the period between April 16, 2013 and August 9, 2013, inclusive, seeking to recover damages for violations of the federal securities laws.
To join the ECOtality class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free, at 866-767-3653; you may also email at pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company was facing an impending shutdown of funds from the US Department of Energy ("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 wish to serve as lead plaintiff, you must move the Court no later than October 15, 2013. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com. You may also visit the firm's website at http://www.rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
CONTACT: Laurence Rosen, Esq.
Phillip Kim, Esq.
Kevin Chan, Esq.
The Rosen Law Firm P.A.
275 Madison Avenue 34th Floor
New York, New York 10016
Tel: (212) 686-1060
Toll Free: 1-866-767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
kchan@rosenlegal.com
www.rosenlegal.com
