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Law Offices of Howard G. Smith Announces Class Action Lawsuit Against A-Power Energy Generation Systems, Ltd.

^{Published on 2011-08-03 18:21:40 - Market Wire}
 

BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces an August 31, 2011 deadline to move to be a lead plaintiff in the class action lawsuit filed in the United States District Court for the Central District of California on behalf of all purchasers of the securities of A-Power Energy Generation Systems, Ltd. (aA-Powera or the aCompanya) (NASDAQ:APWR), between March 31, 2008 and June 27, 2011, inclusive (the aClass Perioda).

A-Power, through its subsidiaries, provides onsite distributed power generation systems and micro power grids for industrial companies, primarily in the Peoplea™s Republic of China. The Complaint alleges that during the Class Period defendants issued a series of materially false and misleading statements concerning the Company's business and financial performance. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company improperly accounted for its related-party transactions such that its financial statements were presented in violation of Generally Accepted Accounting Principles (GAAP); (2) the Company's revenues and income were misstated in violation of GAAP; (3) the Company's revenue and income reported in its filings with the U.S. Securities and Exchange Commission were overstated as the Company reported materially lower revenue and net income in its filings with Chinaa™s State Administration for Industry and Commerce (SAIC); (4) the Company lacked adequate internal and financial controls; and (5), as a result of the foregoing, the Company's financial results were materially false and misleading at all relevant times.

No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased A-Power securities between March 31, 2008 and June 27, 2011, you have certain rights and have until August 31, 2011, to move for lead plaintiff status. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent class member. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215)638-4847, Toll-Free at (888)638-4847, by email to [ howardsmith@howardsmithlaw.com ] or visit our website at [ http://www.howardsmithlaw.com ].