DALLAS, July 25, 2011 (GLOBE NEWSWIRE) -- Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, announces the investigation of potential legal claims against the officers and Board of Directors of Satcon Technology Corporation ("Satcon" or "SATC") during the period of March 4, 2010 through July 5, 2011 (the "Class Period") related to a recently filed federal complaint alleging that Satcon Technology and certain of its officers and directors violated federal securities laws. In particular, The Briscoe Law Firm is investigating potential breach of fiduciary duty claims and other possible violations of state law by Satcon Technology's officers and directors.
All affected investors are urged to contact Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com, to learn more about your rights. There is no cost or fee to you.
It has been alleged that during the Class Period, Satcon Technology and certain of its officers and directors made materially false and misleading statements or failed to disclose material information related to Satcon Technology's business and operations in violation of the Securities Exchange Act of 1934. Specifically, it is alleged that the defendants misrepresented and/or failed to disclose the following adverse facts: (a) that Satcon Technology was experiencing a decrease in sales of its inverter systems; (b) that the company's European market was performing below internal expectations due to changes in government incentives for solar energy; (c) that Satcon Technology failed to properly account for its inventory; and (d) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the company and its prospects. As a result of these statements, it is alleged that Satcon Technology's stock traded at artificially inflated prices during the Class Period.
If you currently own or purchased Satcon Technology/SATC shares and would like additional information regarding this investigation or if you have information regarding the allegations against the company, please contact Willie Briscoe at The Briscoe Law Firm, PLLC (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com.
The Briscoe Law Firm is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.