Law
Offices of Howard G. Smith announces that it is investigating
potential claims on behalf of investors of Global
Power Equipment Group, Inc. (“Global Power” or the “Company”) (NYSE:
GLPW) concerning the recent disclosure that the Company is delaying the
filing of its quarterly report for the first quarter of 2015, and
restating its financial results of the annual period ending December 31,
2014. The Law Offices of Howard G. Smith is preparing a complaint to
recover damages on behalf of Global Power investors.
On May 6, 2015, after the market close, the Company reported
the following, “On May 5, 2015, the Audit Committee of the Board of
Directors of Global Power (the "Audit Committee"), in consultation with
its outside advisors and management, concluded that the financial
statements for the annual period ended December 31, 2014 should not be
relied upon because of accounting errors affecting the fourth quarter of
2014 that were discovered during the first quarter 2015 financial review
process. Those errors resulted in an understatement of the Company's
cost of sales in the quarterly and annual periods ended December 31,
2014.” On this news, shares of Global Power have fallen in after-hours
trading.
If you purchased shares of Global Power prior to May 7, 2015, have
information or would like to learn more about these claims, or have any
questions concerning this announcement or 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.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Copyright Business Wire 2015