NEW ORLEANS, Dec. 4, 2008 (GLOBE NEWSWIRE) -- Kahn Gauthier Swick, LLC announces that it has commenced an investigation into Clean Energy Fuels Corp. ("Clean Energy" or the "Company") (Nasdaq:CLNE) to determine whether it has violated federal securities laws by issuing false and misleading statements to its shareholders.
On October 29, 2008, shares of Clean Energy lost over 20% of their value in a single trading day - - and almost 50% of their value compared to trading only days prior - - after the company lowered guidance below Wall Street's outlook, and announced that Clean Energy would be forced to raise at least $35 million in new capital through the dilutive issuance of stock and low cost warrants. The investigation launched by KGS focuses on, among other things, the timing of the sale of over $20 million in Company stock by a majority shareholder and Board member.
If you have information that might assist KGS in its investigation or would like to discuss your legal rights, you may e-mail or call KGS, without obligation or cost to you. You may contact Managing Partner Lewis Kahn of KGS direct, toll free 1-866-467-1400, ext. 100, or by email at lewis.kahn@kgscounsel.com. KGS focuses its practice on securities fraud litigation, and the firm's lawyers have significant experience working on securities fraud cases that have resulted in significant recoveries for shareholders. For more information on KGS, please visit www.kgscounsel.com.