NEW YORK, April 6, 2012 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. today announced that a class action lawsuit has been filed on behalf of investors who purchased the shares of New Energy Systems Group (AMEX:NEWN) between April 15, 2010 and November 14, 2011, inclusive (the "Class Period").
To join the New Energy class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email pkim@rosenlegal.com for information on the class action.
The Complaint asserts violations of the federal securities laws against New Energy and its officers and directors for issuing false and misleading information. Specifically, the Complaint alleges that (a) the Company had a loyal customer base when it did not; (b) the Company manufactured quality products when it did not; and (c) the demand for batteries would remain profitable. The Complaint alleges that when this adverse information entered the market the price of New Energy securities dropped, causing investor losses.
If you wish to serve as lead plaintiff, you must move the Court no later than April 10, 2012. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com. You may also visit the firm's website at http://www.rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.