A123 Systems, Inc. : Law Offices of Todd M. Garber Reminds Investors of Lead Plaintiff Deadline in the Class Action Lawsuit against A123 Systems, Inc.
05/25/2012| 09:35pm US/Eastern
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The Law Offices of Todd M. Garber reminds purchasers of the common stock
of A123 Systems, Inc. ("A123" or the "Company") (NASDAQ:AONE) between
February 28, 2011 and March 23, 2012, inclusive (the "Class Period")
there are 7 days remaining before the June 1, 2012 deadline to file a
motion with the court to be appointed as Lead Plaintiff in the
shareholder lawsuit pending in the United States District Court for the
District of Massachusetts.
A123 designs, develops, manufactures and sells rechargeable lithium-ion
batteries and energy storage systems worldwide. The Complaint alleges
violation of federal securities laws by A123 and certain of its
executive officers and directors. Specifically, the Complaint alleges
that the defendants issued materially false and misleading statements
concerning the Company's operations and financial prospects, including
that: (1) the Company had severe manufacturing deficiencies at its
Livonia, Michigan, manufacturing facility, which produced defective
prismatic cells that resulted in premature failure of battery modules
and packs; (2) as a result of the defective prismatic cells, A123 would
likely be required - and incur substantial costs - to recall and replace
the affected modules and packs, threatening the financial viability of
the Company; and (3), as a result of the foregoing, the Company's
statements were materially false and misleading at all relevant times.
No action is required at this time to be a member of the above-described
Class; you may retain counsel of your choice or take no action and
remain an absent Class member. However, if you purchased A123 common
stock between February 28, 2011 and March 23, 2012, you have until June
1, 2012 to file a motion with the court to be appointed as Lead
Plaintiff, if you meet certain legal requirements. If you wish to
discuss this action or have any questions concerning this Notice or your
rights or interests with respect to these matters, please contact Todd
M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone
at 213-700-7262 or by email to info@toddgarberlaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Law Offices of Todd M. Garber, Los Angeles
Todd M. Garber, Attorney
at Law
213-700-7262
info@toddgarberlaw.com
© Business Wire 2012
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