A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Exide Technologies (NASDAQ: XIDE) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on July 19, 2016 and NASDAQ: XIDE investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/01/2016 -- A deadline is coming up on July 19, 2016 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Exide Technologies (NASDAQ: XIDE) between June 1, 2011 and May 24, 2013 and/or the 8 and 5/8% senior secured notes of Exide Technologies (NASDAQ: XIDE) between August 12, 2011 and November 9, 2012.
Investors who purchased a significant amount of shares of Exide Technologies (NASDAQ: XIDE) between June 1, 2011 and May 24, 2013 and/or the 8 and 5/8% senior secured notes of Exide Technologies (NASDAQ: XIDE) between August 12, 2011 and November 9, 2012, have certain options and should contact the Shareholders Foundation by email at email@example.com or call 858-779-1554.
The settlement proof of claim form or detailed settlement notice for the settlement in the Exide Technologies (NASDAQ: XIDE) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/exide-technologies-nasdaq-xide-investor-securities-class-action-lawsuit-04152013
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is July 19, 2016. The class action administrator for this case is KCC Class Action Services.
The lawsuit was originally filed in the U.S. District Court for the Central District of California against Exide Technologies over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between February 9, 2012 and April 3, 2013. According to the complaint the plaintiff alleged on behalf of all persons or entities who purchased or otherwise acquired securities of Exide Technologies (NASDAQ: XIDE) between February 9, 2012 and April 3, 2013, that Exide Technologies and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing allegedly false and/or misleading statements, as well as failing to disclose material adverse facts about Exide Technologies' business, operations, and prospects. More specifically, the plaintiff alleged that defendants allegedly failed to disclose that Exide Technologies was polluting the environment with potentially fatal levels of arsenic, and exposing almost 110,000 residents near its Vernon, California battery recycling facility to dangerously high levels of pollutants and that Exide Technologies allegedly knew that based on actual and projected revenues and expenses it would not be able to meet its debt repayment obligations and other pledges and promises under its debt agreements and indentures. The plaintiff claimed that Exide Technologies allegedly knew that it could not satisfy its obligations under a $200 million revolving facility, a $675 million bond, and a $55.7 million floating rate convertible note due in September 2013; and that as a result, Exide Technologies allegedly knew its environmental liabilities, debt obligations and potential insolvency supported neither its statements to investors regarding its financials, its quarterly guidance, nor the inflated share price targets the investment community was modeling based on Defendants' statements and guidance between February 9, 2012 and April 3, 2013.
Those who purchased shares of Exide Technologies (NASDAQ: XIDE) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego