NEW YORK, Nov. 18, 2015 /PRNewswire/ -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a securities class action has been filed in the United States District Court for the Central District of California on behalf of those who purchased shares of Capstone Turbine Corp ("Capstone" or the "Company") (NasdaqCM: CPST), during the period between November 7, 2013 and November 5, 2015 inclusive (the "Class Period").
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) that BPC Engineering ("BPC"), an important Russian distributer, was unlikely to be able to fulfill many of its legal and financial obligations to Capstone; (ii) that Capstone did not make the proper adjustments to its accounts receivable and backlog to account for BPC's inability to fulfill its obligations to Capstone; (iii) that some of Capstone's financial statements were in violation of Generally Accepted Accounting Principles ("GAAP"); and (iv) that the Company lacked adequate internal controls over accounting. When the truth was revealed, shares dropped causing investors harm.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact Peretz Bronstein, Esq. 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. If you suffered a loss in Capstone 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.
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