NEW YORK, Nov. 24, 2015 (GLOBE NEWSWIRE) -- The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Central District of California on behalf of investors who purchased Capstone Turbine Corporation (NASDAQ:CPST) securities between November 7, 2013 and November 5, 2015.
Click here to learn about the case: http://docs.wongesq.com/CPST-Info-Request-Form-996. There is no cost or obligation to you.
The complaint alleges that defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) BPC Engineering (“BPC”), one of Capstone’s main Russian distributors, was unlikely to be able to fulfill many of its legal and financial obligations to Capstone; (2) Capstone failed to make appropriate adjustments to its accounts receivable and backlog to account for BPC’s inability to fulfill its obligations; (3) Capstone issued financial statements in violation of Generally Accepted Accounting Principles; and (4) Capstone lacked adequate internal controls over accounting.
Shares of Capstone Turbine have fallen from a close of $4.30 per share on November 5, 2015, to a recent close of just $1.98 per share on November 17, 2015.
If you suffered a loss in Capstone Turbine you have until January 15, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. To obtain additional information, contact Vincent Wong, Esq. either via email vw@wongesq.com, by telephone at 212.425.1140, or visit http://docs.wongesq.com/CPST-Info-Request-Form-996.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.