这个lawsuit算个大新闻吧？怎么没人提哪？小股民该做啥？# Stock
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PRESS RELEASE
July 20, 2011, 9:45 a.m. EDT
Cohen Milstein Sellers & Toll PLLC Announces Investigation of A-Power Energy
Generation Systems, Ltd.
WASHINGTON, Jul 20, 2011 (BUSINESS WIRE) -- Cohen Milstein Sellers & Toll
PLLC is conducting an investigation to determine whether A-Power Energy
Generation Systems, Ltd. ("APWR" or the "Company") and certain of its
officers and directors made false and misleading statements and/or omissions
in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of
1934.
Class action lawsuits have been filed in the U.S. District Courts for the
Central District of California and the District of Nevada by other law firms
on behalf of purchasers of the common stock of A-Power Energy Generation
Systems, Ltd. APWR -99.94% between March 31, 2008 and June 27, 2011,
inclusive (the "Class Period").
A-Power Energy Generation Systems, Ltd., through its subsidiaries, purports
to be the largest provider of distributed power generation systems in China,
focusing on the design, construction, and installation of distributed
generation systems in China.
The complaints allege that APWR and certain of its officers and/or directors
("Defendants") misrepresented and/or failed to disclose that: (1) APWR
improperly accounted for its related-party transactions such that its
financial statements were presented in violation of U.S. Generally Accepted
Accounting Principles; and (2) APWR's revenues and income were materially
overstated.
On March 28, 2011, the Company announced that its 2010 earnings call would
be postponed to a date not yet determined to allow auditors to complete work
on the Company's financial statements and audit, but insisted that the
delay was not due to any accounting errors or irregularities. However,
between June 17 and July 5, three independent directors of the Company and
its CFO left the Company. One director resigned "as a result of concerns
that his views on process and best practices were not necessarily shared
throughout the Company." On June 17, 2011 Seeking Alpha published an article
on APWR, which discussed the Company's alleged internal control weaknesses
and discrepancies between the revenues and profits reported in the U.S.
versus those reported in China. On June 27, 2011, the Company announced that
its auditor, MSCM LLP, had resigned, and that APWR would be unable to
timely file its 2010 Form 20-F. Trading in the Company's stock was halted
just prior to this June 27 announcement, with APWR shares priced at $1.67.
The shares have not traded since June 27.
Cohen Milstein encourages all investors who purchased APWR common stock or
former employees with information concerning this matter to contact the firm.
If you are an APWR shareholder and would like to discuss your right to
recover for your economic loss, you may, without any cost or obligation,
call Cohen Milstein's Managing Partner, Steven J. Toll at (888) 240-0775 or
(202) 408-4600, or email him at s***[email protected] If you purchased
the common stock of APWR and wish to serve as lead plaintiff, you must move
the Court no later than August 30, 2011 to request that the Court appoint
you as lead plaintiff. A lead plaintiff is a representative party acting on
behalf of other class members in directing the litigation. To be appointed
lead plaintiff, the Court must decide that your claim is typical of the
claims of other class members, and that you will adequately represent the
class. Your share in any recovery will not be enhanced or diminished by the
decision whether or not to serve as a lead plaintiff. Any member of the
proposed class may retain Cohen Milstein Sellers & Toll PLLC or other
attorneys to serve as your counsel in this action, or you may do nothing and
remain an absent class member.
Cohen Milstein Sellers & Toll PLLC has significant experience in prosecuting
investor class actions and actions involving securities fraud. The firm has
offices in Washington, D.C., New York, Philadelphia, Chicago, and West Palm
Beach, and is active in major litigation pending in federal and state
courts throughout the nation.
The firm's reputation for excellence has repeatedly been recognized by
courts which have appointed the firm to lead positions in complex multi-
district or consolidated litigation. Cohen Milstein Sellers & Toll PLLC has
taken a lead role in numerous important cases on behalf of defrauded
investors, and has been responsible for a number of outstanding recoveries
which, in the aggregate, total over a billion dollars. Prior results do not
guarantee a similar outcome. For more information visit www.cohenmilstein.
com .
July 20, 2011, 9:45 a.m. EDT
Cohen Milstein Sellers & Toll PLLC Announces Investigation of A-Power Energy
Generation Systems, Ltd.
WASHINGTON, Jul 20, 2011 (BUSINESS WIRE) -- Cohen Milstein Sellers & Toll
PLLC is conducting an investigation to determine whether A-Power Energy
Generation Systems, Ltd. ("APWR" or the "Company") and certain of its
officers and directors made false and misleading statements and/or omissions
in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of
1934.
Class action lawsuits have been filed in the U.S. District Courts for the
Central District of California and the District of Nevada by other law firms
on behalf of purchasers of the common stock of A-Power Energy Generation
Systems, Ltd. APWR -99.94% between March 31, 2008 and June 27, 2011,
inclusive (the "Class Period").
A-Power Energy Generation Systems, Ltd., through its subsidiaries, purports
to be the largest provider of distributed power generation systems in China,
focusing on the design, construction, and installation of distributed
generation systems in China.
The complaints allege that APWR and certain of its officers and/or directors
("Defendants") misrepresented and/or failed to disclose that: (1) APWR
improperly accounted for its related-party transactions such that its
financial statements were presented in violation of U.S. Generally Accepted
Accounting Principles; and (2) APWR's revenues and income were materially
overstated.
On March 28, 2011, the Company announced that its 2010 earnings call would
be postponed to a date not yet determined to allow auditors to complete work
on the Company's financial statements and audit, but insisted that the
delay was not due to any accounting errors or irregularities. However,
between June 17 and July 5, three independent directors of the Company and
its CFO left the Company. One director resigned "as a result of concerns
that his views on process and best practices were not necessarily shared
throughout the Company." On June 17, 2011 Seeking Alpha published an article
on APWR, which discussed the Company's alleged internal control weaknesses
and discrepancies between the revenues and profits reported in the U.S.
versus those reported in China. On June 27, 2011, the Company announced that
its auditor, MSCM LLP, had resigned, and that APWR would be unable to
timely file its 2010 Form 20-F. Trading in the Company's stock was halted
just prior to this June 27 announcement, with APWR shares priced at $1.67.
The shares have not traded since June 27.
Cohen Milstein encourages all investors who purchased APWR common stock or
former employees with information concerning this matter to contact the firm.
If you are an APWR shareholder and would like to discuss your right to
recover for your economic loss, you may, without any cost or obligation,
call Cohen Milstein's Managing Partner, Steven J. Toll at (888) 240-0775 or
(202) 408-4600, or email him at s***[email protected] If you purchased
the common stock of APWR and wish to serve as lead plaintiff, you must move
the Court no later than August 30, 2011 to request that the Court appoint
you as lead plaintiff. A lead plaintiff is a representative party acting on
behalf of other class members in directing the litigation. To be appointed
lead plaintiff, the Court must decide that your claim is typical of the
claims of other class members, and that you will adequately represent the
class. Your share in any recovery will not be enhanced or diminished by the
decision whether or not to serve as a lead plaintiff. Any member of the
proposed class may retain Cohen Milstein Sellers & Toll PLLC or other
attorneys to serve as your counsel in this action, or you may do nothing and
remain an absent class member.
Cohen Milstein Sellers & Toll PLLC has significant experience in prosecuting
investor class actions and actions involving securities fraud. The firm has
offices in Washington, D.C., New York, Philadelphia, Chicago, and West Palm
Beach, and is active in major litigation pending in federal and state
courts throughout the nation.
The firm's reputation for excellence has repeatedly been recognized by
courts which have appointed the firm to lead positions in complex multi-
district or consolidated litigation. Cohen Milstein Sellers & Toll PLLC has
taken a lead role in numerous important cases on behalf of defrauded
investors, and has been responsible for a number of outstanding recoveries
which, in the aggregate, total over a billion dollars. Prior results do not
guarantee a similar outcome. For more information visit www.cohenmilstein.
com .