The Law Firm of Levi & Korsinsky Notifies Investors With Losses on Their Investment in New Energy Systems Group of Class Acti...
March 01 2012 - 2:00PM
Marketwired
Levi & Korsinsky announces that a class action lawsuit has been
commenced in the United States District Court for the Southern
District of New York on behalf of investors who purchased New
Energy Systems Group ("New Energy" or the "Company") (NYSE Amex:
NEWN) stock between April 15, 2010 and November 14, 2011.
For more information, click here:
http://zlk.9nl.com/new-energy-systems-group-newn. There is no cost
or obligation to you.
The complaint alleges that during the Class Period, the Company
issued materially false and misleading statements in its filings
with the SEC. These statements included, among other things: (a)
that the Company had a loyal customer base when it did not; (b)
that the Company manufactured quality products when it did not; and
that (c) the demand for batteries would remain profitable. The
complaint further alleges that the Company failed to disclose the
adverse effect of counterfeit products on Company sales. As a
result of the aforementioned, the Company's battery business had
materially declined and the goodwill associated with the Company's
battery business had become worthless.
If you suffered a loss in New Energy you have until April 10,
2012 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. To obtain additional information, contact Joseph
E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at
(877) 363-5972, or visit
http://zlk.9nl.com/new-energy-systems-group-newn.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. Attorney advertising. Prior results do not guarantee
similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard
Korsinsky, Esq. 30 Broad Street - 15th Floor New York, NY 10004
Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171
www.zlk.com
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