San Diego, CA -- (SBWIRE) -- 08/07/2012 -- An investigation on behalf of investors of Valence Technology, Inc. (PINK:VLNCQ) shares over potential securities laws violations by Valence Technology, Inc. and certain of its directors and in connection with certain statements was announced.
Investors who purchased shares of Valence Technology, Inc. (PINK:VLNCQ), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Valence Technology, Inc. (PINK:VLNCQ) concerning whether a series of statements by Valence Technology, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Valence Technology’s Total Revenue fell from $45.88million for the 52weeks period that ended on March 31, 2011 to $44.38milion for the 52weeks period that ended on March 31, 2012 and its Net Loss increased over the respective time periods from $12.69million to $12.73million.
On February 23, 2012, Valence President and Chief Executive Officer, reportedly stated during Valence Technology’s appearance at Jefferies Global Clean Technology Conference that "[m]oving forward our cash needs will not be significant."
Then on July 12, 2012, Valence Technology declared bankruptcy
Shares of Valence Technology, Inc. trade currently under PINK:VLNCQ and closed on August 6, 2012, at $0.0277 per share.
Those who purchased shares of Valence Technology, Inc. (PINK:VLNCQ) and currently hold those Valence Technology, Inc. shares, may have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego