Binkow & Goldberg LLP announces that a class action lawsuit has
been filed in the United States District Court for the Southern District
of New York on behalf of a class (the “Class”) comprising all purchasers
of the securities of A123
Systems, Inc. (“A123” or the “Company”) (OTC MARKETS:AONEQ) between
February 28, 2011 and October 16, 2012, inclusive (the “Class Period”).
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY
BINKOW & GOLDBERG LLP. PLEASE CONTACT US TOLL-FREE AT (888) 773-9224, OR
AT (212) 682-5340, OR BY EMAIL TO [email protected]
TO DISCUSS THIS MATTER. IF YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR
MAILING ADDRESS, TELEPHONE NUMBER AND NUMBER OF SHARES PURCHASED.
A123, which filed for bankruptcy protection in October 2012, developed,
manufactured and sold advanced lithium-ion batteries and energy storage
systems, including batteries and battery systems for hybrid electric
vehicles. A123’s largest customer was Fisker Automotive, Inc. The
Complaint alleges that during the Class Period certain officers and
directors of the former Company issued materially false and misleading
statements concerning A123’s financial performance and prospects.
Specifically, defendants misrepresented or failed to disclose Fisker’s
inability to meet production milestones related to a funding agreement
with the U.S. Department of Energy, which threatened Fisker’s ability to
pay A123, and the adverse effect Fisker’s weakening financial position
was having on A123’s investment in Fisker preferred stock and the
Company’s own financial performance and prospects.
If you are a member of the Class described above you may move the Court
no later than November 26, 2013, to serve as lead plaintiff; however,
you must meet certain legal
If you wish to learn
more about this action or have any questions concerning this
announcement or your rights or interests with respect to these matters,
please contact Michael
Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century
Park East, Suite 2100, Los Angeles, California 90067, Toll Free at (888)
773-9224, or contact Gregory
Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd
Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by
e-mail to [email protected],
or visit our website at http://www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Copyright Business Wire 2013