SOURCE: Brower Piven, A Professional Corporation

January 05, 2011 16:40 ET

Brower Piven Encourages Investors Who Have Losses in Excess of $25,000 From Investment in Alternate Energy Holdings, Inc. to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit

STEVENSON, MD--(Marketwire - January 5, 2011) - Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the District of Idaho on behalf of purchasers of the common stock of Alternate Energy Holdings, Inc. ("Alternate Energy" or the "Company") (PINKSHEETS: AEHI) during the period between September 20, 2006 and December 14, 2010, inclusive (the "Class Period").

No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff.

The complaint accuses Alternate Energy and certain of its officers and directors of violations of the Securities Exchange Act of 1934 by virtue of the Company failing to disclose during the Class Period that Defendants engaged in a scheme to manipulate and artificially inflate the market price of Alternate Energy stock by hiring stock promoters to creating artificial demand in the marketplace through end of day stock purchases and misrepresenting that Company officers and directors never sold any shares of the Company's stock.

According to the complaint, after trading in the Company's shares was halted by an order of the SEC because of questions raised about the accuracy of certain publicly disseminated information and after the SEC instituted a civil action for violations of the securities laws against Alternate Energy and defendants Gillispie and Ransom, when trading resumed, the value of Alternative Energy shares declined significantly.

If you have suffered a net loss for all transactions in Alternate Energy Holdings, Inc. common stock during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

Contact Information

  • CONTACT:
    Charles J. Piven
    Brower Piven, A Professional Corporation
    Stevenson, Maryland
    410/415-6616
    Email Contact