SAN DIEGO, June 16, 2015 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of shares of Global Power Equipment Group Inc (NYSE:GLPW) over alleged Violations of Federal Securities Laws by Global Power Equipment Group Inc connection with certain allegedly false and misleading statements.
Investors who purchased a significant amount of shares of Global Power Equipment Group Inc (NYSE:GLPW) between March 9, 2015 and May 6, 2015, and / or Investors who purchased any (NYSE:GLPW) shares prior to March 2015 and continue to hold any of those shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff claims that Global Power Equipment Group’s cost of sales in its financial statements for the annual period ended December 31, 2014 were understated, that Global Power Equipment Group Inc lacked adequate internal controls over its financial reporting, and that as a result of the foregoing, Global Power Equipment Group’s financial statements were materially false and misleading at all relevant times.
On May 6, 2015, Global Power Equipment Group Inc announced that its financial statements for the annual period ended December 31, 2014 should not be relied upon and will be restated due to errors resulting in an understatement of the Company’s cost of sales in the quarterly and annual periods ended December 31, 2014.
Those who purchased Global Power Equipment Group Inc (NYSE:GLPW) shares have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.