NEW YORK, Sept. 11, 2013 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Active Power Inc. ("Active Power" or the "Company") (NasdaqCM: ACPW). The investigation focuses on whether the Company and its executives violated federal securities laws.
On September 6, 2013, shares of Active Network fell $0.48 or 13.71% to close at $3.02 after the Company retracted its guidance after the close of trading on September 5, 2013. On April 30, 2013, Active Power announced that it had entered into a "[n]ew strategic distribution partnership agreement with Digital China Information Service Limited." The Company represented that this relationship with Digital China would allow the Company to increase its revenues and profitability. Then on September 5, 2013, after close of trading, the Company retracted its guidance, citing disappointing results in China. The Company attributed the Company's poor result to the fact that "the company's previously announced agreement in China is with Qiyuan Network System Limited, which the company's management discovered is neither an affiliate nor a subsidiary of Digital China Information Service Company Limited."
If you are aware of any facts relating to this investigation, or purchased shares of Active Power, you can assist this investigation by contacting either Peretz Bronstein or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
SOURCE Bronstein, Gewirtz & Grossman, LLC