Investor Alert: The Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Capstone Tu...
January 08 2016 - 9:30AM
Business Wire
Law Offices of Howard G. Smith announces that a class action
lawsuit has been filed on behalf of investors who purchased
Capstone Turbine Corp. ("Capstone" or the "Company") (Nasdaq: CPST)
between November 7, 2013 and November 5, 2015, inclusive (the
“Class Period”). Investors who suffered losses of $750,000 or more
on their investment in Capstone securities are encouraged to
contact the Law Offices of Howard G. Smith to discuss their legal
rights in this class action.
Capstone develops, manufactures, markets and services
microturbine technology solutions for use in stationary distributed
power generation applications, including cogeneration (combined
heat and power, integrated combined heat and power, and combined
cooling, heat and power), renewable energy, natural resources and
critical power supply.
The Complaint alleges that throughout the Class Period,
Defendants made false and/or misleading statements and/or failed to
disclose the following: (1) that BPC Engineering (“BPC”), one of
the Company’s main Russian distributors, was unlikely to be able to
fulfill many of its legal and financial obligations to Capstone;
(2) that Capstone failed to make appropriate adjustments to its
accounts receivable and backlog to account for BPC’s inability to
fulfill its obligations to Capstone; (3) that Capstone issued
financial statements in violation of Generally Accepted Accounting
Principles (“GAAP”); (4) that the Company lacked adequate internal
controls over accounting; and (5) that, as a result of the
foregoing, the Company’s financial statements, as well as
Defendants’ statements about Capstone’s business, operations, and
prospects, were false and misleading and/or lacked a reasonable
basis.
If you purchased Capstone securities during the Class Period you
may move the Court no later than January 15, 2016 to ask the
Court to appoint you as lead plaintiff if you meet certain legal
requirements. To be a member of the Class you need not take any
action at this time; you may retain counsel of your choice or take
no action and remain an absent member of the Class. If you wish
to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests
with respect to these matters, please contact Howard G. Smith,
Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike,
Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215)
638-4847, toll-free at (888) 638-4847, or by email to
howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20160108005136/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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