NEW YORK, Oct. 15, 2013 /PRNewswire/ -- Levi & Korsinsky announces that a class action lawsuit has been commenced on behalf of investors who purchased Active Power, Inc. ("Active Power" or the "Company") (NasdaqCM: ACPW) common stock between April 30, 2013 and September 5, 2013.
For more information, click here: http://zlk.9nl.com/active-power/.
The complaint alleges that during the class period the Company made materially false and misleading statements and/or omitted materially adverse facts that led the stock to trade at artificially inflated prices.
On April 30, 2013, the Company announced that it had entered into a strategic distribution partnership with Digital China Information Service Limited. On September 5, 2013, however, after the close of trading, the Company disclosed that its partnership was with Qiyuan Network System Limited, which is neither an affiliate nor a subsidiary of Digital China. Additionally, the Company added that "[w]hile we remain optimistic about our long-term market opportunity in China, our experience this year in China has been very disappointing and for now is unpredictable." Upon this news, shares of Active Power stock declined $0.48 per share, or 13.71%, to close on September 6, 2013 at $3.02 per share.
Shareholders of Active Power have until November 12, 2013 to seek appointment 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 firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/active-power/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
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
SOURCE Levi & Korsinsky, LLP