Dyer & Berens LLP Files Class Action Lawsuit on Behalf of Investors Who Purchased Satcon Technology Corporation Common Stock Bet
July 22 2011 - 10:16AM
Marketwired
Dyer & Berens LLP (www.DyerBerens.com) today announced that it
has filed a class action lawsuit in the United States District
Court for the District of Massachusetts on behalf of purchasers of
Satcon Technology Corporation (the "Company") (NASDAQ: SATC) common
stock between March 4, 2010 and July 5, 2011, inclusive (the "Class
Period").
What actions may I take at this time? If
you purchased shares during the Class Period and wish to serve as a
lead plaintiff, you must request appointment by the court no later
than September 19, 2011. If you would like to discuss this action,
the lead plaintiff process, or have any questions concerning this
notice, please contact plaintiff's counsel, Jeffrey A. Berens, Esq.
at (888) 300-3362 x302 or via email at jeff@dyerberens.com.
What are the allegations in the complaint?
The complaint alleges that during the Class Period, defendants
failed to disclose material adverse facts about the Company's true
financial condition, business and prospects. Specifically,
defendants misrepresented and/or failed to disclose the following
adverse facts: (a) that the Company was experiencing a decrease in
sales of its inverter systems; (b) that the Company's European
market was performing below internal expectations due to changes in
government incentives for solar energy; (c) that the Company failed
to properly account for its inventory; and (d) as a result of the
foregoing, defendants lacked a reasonable basis for their positive
statements about the Company and its prospects. Based upon the
foregoing, the complaint charges the Company and certain of its
officers with violations of the Securities Exchange Act of
1934.
About Dyer & Berens LLP. The plaintiff
is represented by several law firms, including Dyer & Berens
LLP, which has expertise in prosecuting investor class actions
involving financial fraud. The firm's extensive experience in
securities litigation, particularly in cases brought under the
Private Securities Litigation Reform Act, has contributed to the
recovery of hundreds of millions of dollars for aggrieved
investors.
Contact: Jeffrey A. Berens Dyer & Berens LLP 303 East 17th
Avenue, Suite 300 Denver, CO 80203 Tel: (888) 300-3362 x302 Email:
Email Contact Website: www.DyerBerens.com
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