PITTSBURGH, Oct. 4, 2013 /PRNewswire/ -- Notice is hereby given by the Law Office of Alfred G. Yates Jr., P.C. that a class action has been filed in the United States District Court for the Northern District of California on behalf of purchasers of ECOtality, Inc. ("ECOtality") (NASDAQ: ECTY) common stock during the period between April 16, 2013 and August 9, 2013 (the "Class Period").
If you wish to serve as lead plaintiff, you must move the Court no later than October 15, 2013. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Alfred G. Yates Jr., at 1-800-391-5164, toll free, or at firstname.lastname@example.org by e-mail. Please visit http://yatesclassactionlaw.com. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint charges ECOtality and certain of its officers and directors with violations of the Securities Exchange Act of 1934.
The complaint alleges that during the Class Period, defendants issued false and misleading statements regarding the Company's business and future prospects. Specifically, the complaint alleges that defendants concealed due to design and manufacturing defects, some of ECOtality's charging systems had been causing overheating and even the melting of connector plugs when charging vehicles.
On August 12, 2013, the price of ECOtality common stock, which had traded as high as $2.40 per share in intraday trading during the Class Period, plummeted more than 87% from that level to close at $0.30 per share.
Plaintiff seeks to recover damages on behalf of all purchasers of ECOtality common stock during the Class Period (the "Class").
The firm is also investigating actions on behalf of shareholders for the following companies: The Active Network, Inc. (NYSE: ACTV), BioScrip Inc. (Nasdaq: BIOS), Boise Inc. (NYSE: BZ), Edgen Group Inc. (NYSE: EDG), Francesca's Holdings Corporation (Nasdaq: FRAN), JPMorgan Chase & Co. (NYSE: JPM), Lumber Liquidators Holdings, Inc. (NYSE: LL), Urban Outfitters Inc. (Nasdaq: URBN), Verenium Corporation (Nasdaq: VRNM), Zoltek Companies Inc. (Nasdaq: ZOLT).
If you are a shareholder of any of the above companies and wish learn more about any of the investigations or have any questions, please contact Alfred G. Yates Jr., Esquire at 1-800-391-5164, toll free, or at email@example.com by e-mail. Please visit http://yatesclassactionlaw.com.
SOURCE Law Office of Alfred G. Yates Jr., P.C.