SOURCE: Shareholders Foundation, Inc

Shareholders Foundation, Inc

April 02, 2012 09:47 ET

Deadline on April 9 in Lawsuit for Investors in Powerwave Technologies, Inc. (PWAV) Announced by Shareholders Foundation

SAN DIEGO, CA--(Marketwire - Apr 2, 2012) - The Shareholders Foundation, Inc. announces that a lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of certain investors in shares Powerwave Technologies, Inc. (PWAV) against Powerwave Technologies, Inc. over alleged Violations of Federal Securities Laws in connection with certain allegedly false and misleading statements and a deadline to get actively involved is coming up on April 9, 2012.

Investors who purchased Powerwave Technologies, Inc. (PWAV) shares, including but not limited to those who acquired PWAV shares between February 1, 2011 and October 18, 2011, have certain options and should contact the Shareholders Foundation by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.

According to the complaint the plaintiff alleges that Powerwave Technologies and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing allegedly materially false and misleading statements regarding Powerwave Technologies' business and prospects.

On November 8, 2011, Powerwave Technologies, Inc. reported that its three months Revenue fell from $156million for a three months period ending on Oct. 3, 2010 to $77million for the three months period ending on Oct. 2, 2011, further Powerwave Technologies, Inc. reported that its nine months Revenue fell from $415million for a nine months period ending on Oct. 3, 2010 to $384million for its nine months period ending on Oct. 2, 2011.

(NASDAQ: PWAV) shares fell since its 1:5 split on Oct 31, 2011 to as low as $1.71 in January 2012.

Those who purchased Powerwave Technologies, Inc. (PWAV) shares have certain options and should contact the Shareholders Foundation.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

Contact Information

  • CONTACT:
    Shareholders Foundation, Inc.
    Trevor Allen
    +1 (858) 779-1554
    mail@shareholdersfoundation.com
    3111 Camino Del Rio North
    Suite 423
    San Diego, CA 92108