NEW YORK, Jan. 04, 2016 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Capstone Turbine Corporation (“Capstone Turbine”) (NASDAQ:CPST) between November 7, 2013 and November 5, 2015.
You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Central District of California. If you purchased or otherwise acquired Capstone Turbine securities between November 7, 2013 and November 5, 2015, your rights may be affected by this action. To get more information go to: http://zlk.9nl.com/capstone-turbine-cpst.
The complaint alleges that defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) BPC Engineering (“BPC”), one of Capstone’s main Russian distributors, was unlikely to be able to fulfill many of its legal and financial obligations to Capstone; (2) Capstone failed to make appropriate adjustments to its accounts receivable and backlog to account for BPC’s inability to fulfill its obligations; (3) Capstone issued financial statements in violation of Generally Accepted Accounting Principles; and (4) Capstone lacked adequate internal controls over accounting.
Shares of Capstone Turbine have fallen from a close of $4.30 per share on November 5, 2015, to a recent close of just $1.98 per share on November 17, 2015.
If you suffered a loss in Capstone Turbine you have until January 15, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/capstone-turbine-cpst.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation involving financial fraud, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
