SOURCE: Dyer & Berens LLP

Dyer & Berens LLP

July 22, 2011 11:16 ET

Dyer & Berens LLP Files Class Action Lawsuit on Behalf of Investors Who Purchased Satcon Technology Corporation Common Stock Between 3/4/10 and 7/5/11; Announces Investor Deadline (SATC)

DENVER, CO--(Marketwire - Jul 22, 2011) - Dyer & Berens LLP (www.DyerBerens.com) today announced that it has filed a class action lawsuit in the United States District Court for the District of Massachusetts on behalf of purchasers of Satcon Technology Corporation (the "Company") (NASDAQ: SATC) common stock between March 4, 2010 and July 5, 2011, inclusive (the "Class Period").

What actions may I take at this time? If you purchased shares during the Class Period and wish to serve as a lead plaintiff, you must request appointment by the court no later than September 19, 2011. If you would like to discuss this action, the lead plaintiff process, or have any questions concerning this notice, please contact plaintiff's counsel, Jeffrey A. Berens, Esq. at (888) 300-3362 x302 or via email at jeff@dyerberens.com.

What are the allegations in the complaint? The complaint alleges that during the Class Period, defendants failed to disclose material adverse facts about the Company's true financial condition, business and prospects. Specifically, defendants misrepresented and/or failed to disclose the following adverse facts: (a) that the Company was experiencing a decrease in sales of its inverter systems; (b) that the Company's European market was performing below internal expectations due to changes in government incentives for solar energy; (c) that the Company failed to properly account for its inventory; and (d) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its prospects. Based upon the foregoing, the complaint charges the Company and certain of its officers with violations of the Securities Exchange Act of 1934.

About Dyer & Berens LLP. The plaintiff is represented by several law firms, including Dyer & Berens LLP, which has expertise in prosecuting investor class actions involving financial fraud. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors.

Contact Information

  • Contact:

    Jeffrey A. Berens
    Dyer & Berens LLP
    303 East 17th Avenue, Suite 300
    Denver, CO 80203
    Tel: (888) 300-3362 x302
    Email: Email Contact
    Website: www.DyerBerens.com