SOURCE: Dyer & Berens LLP

Dyer & Berens LLP

February 14, 2012 17:51 ET

Dyer & Berens LLP Files Class Action on Behalf of Powerwave Technologies Investors; Encourages Large Investors to Inquire About the Upcoming Lead Plaintiff Deadline (PWAV)

DENVER, CO--(Marketwire - Feb 14, 2012) - Dyer & Berens LLP (www.DyerBerens.com) today announced that it has filed a class action lawsuit in the United States District Court for the Central District of California on behalf of purchasers of the common stock of Powerwave Technologies, Inc. (NASDAQ: PWAV) between February 1, 2011 and October 18, 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 April 9, 2012. A "lead plaintiff" works with counsel to direct the litigation and participates in important decisions, including the amount of compensation to accept in settlement of the class action. Members of the putative class may move the court to serve as lead plaintiffs through counsel of their choice, or may choose to do nothing and remain absent class members.

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 contains allegations that, during the Class Period, defendants issued materially false and misleading statements regarding the company's business. Specifically, the true facts, which were known by the defendants but concealed from the investing public during the Class Period, were as follows: (a) that Powerwave was experiencing a dramatic decline in demand from customers in its North American markets; (b) that the company was rapidly burning through its free cash flow as revenues declined and expenses increased; and (c) that, as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about Powerwave, its operations and earnings. 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 Dyer & Berens LLP. 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