Harwood Feffer LLP Announces Investigation of Exide Technologies

Apr 08, 2013, 22:10 ET from Harwood Feffer LLP

NEW YORK, April 8, 2013 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Exide Technologies ("Exide" or the "Company") (NASDAQ: XIDE), concerning whether the board has breached its fiduciary duties to shareholders.

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On March 22, 2013, a government agency published a health risk assessment of emissions from the Company's recycled lead battery smelting facility in Vernon, California.  According to the assessment, the facility exposed workers and residents living in the area, part of the Los Angeles metro region that is home to millions of people, to potentially cancerous levels of arsenic. 

On April 3, 2013, a Los Angeles City Council committee directed the Los Angeles City Attorneys' office to take action to require Exide to address the pollution concerns immediately.  By market close the next day, Company stock had dropped nearly 50% on this news. 

Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.

If you own Exide shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Robert I. Harwood, Esq. Matthew M. Houston, Esq. Benjamin I. Sachs-Michaels, Esq. Harwood Feffer LLP 488 Madison Avenue New York, New York 10022 Phone Numbers: (877) 935-7400                            (212) 935-7400 Email: bsachsmichaels@hfesq.com Website: http://www.hfesq.com

Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.

Attorney Advertising. © 2013 Harwood Feffer LLP. The law firm responsible for this advertisement is Harwood Feffer LLP (www.hfesq.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter.


SOURCE Harwood Feffer LLP