San Diego, CA -- (SBWire) -- 01/12/2016 --A shareholder in Capstone Turbine Corporation (NASDAQ:CPST), filed a lawsuit in California over alleged violations of Federal Securities Laws by Capstone Turbine Corporation.
Investors who purchased shares of Capstone Turbine Corporation (NASDAQ:CPST) have certain options and for certain investors are short and strict deadlines running. Deadline: January 15, 2016. NASDAQ:CPST investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The plaintiff claims that between November 7, 2013 and November 5, 2015 Defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose the following that BPC Engineering ("BPC"), one of the Company's main Russian distributors, was unlikely to be able to fulfill many of its legal and financial obligations to Capstone, that Capstone failed to make appropriate adjustments to its accounts receivable and backlog to account for BPC's inability to fulfill its obligations to Capstone, that Capstone issued financial statements in violation of Generally Accepted Accounting Principles ("GAAP"), that the Company lacked adequate internal controls over accounting, and that, as a result of the foregoing, the Company's financial statements, as well as Defendants' statements about Capstone's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On November 7, 2013, Capstone Turbine Corporation (NASDAQ:CPST) announced its financial results for its second quarter of fiscal year 2014 that ended on September 30, 2013.
On November 5, 2015, Capstone Turbine Corporation announced its financial results for the second quarter of fiscal 2016 that ended on September 30, 2015. Darren Jamison, President and Chief Executive Officer of Capstone Turbine, said that they are disappointed in reporting financial results that were below the original internal and Street expectations. Shares of Capstone Turbine Corporation (NASDAQ:CPST) declined to as low as $1.89 per share on November 18, 2015, respectively $1.16 per share on December 15, 2015.
On January 8, 2016, NASDAQ:CPST shares closed at $1.35 per share.
Those who purchased shares of Capstone Turbine Corporation (NASDAQ:CPST) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
Capstone Turbine Corporation (NASDAQ:CPST) Shareholder Alert: Lawsuit Alleges Misleading Statements
A lawsuit was filed on behalf of investors in Capstone Turbine Corporation (NASDAQ:CPST) shares over alleged securities laws violations and NASDAQ:CPST investors should contact the Shareholders Foundation.