SOURCE: Izard Nobel LLP

April 10, 2012 17:08 ET

Izard Nobel LLP Announces Class Action Lawsuit Against A123 Systems, Inc.

WEST HARTFORD, CT--(Marketwire - Apr 10, 2012) - The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the District of Massachusetts on behalf of purchasers of the publicly traded securities of A123 Systems, Inc. ("A123" or the "Company") (NASDAQ: AONE) between February 28, 2011 and March 23, 2012, inclusive (the "Class Period").

The Complaint alleges that A123, a company that together with its subsidiaries, designs, develops, manufactures and sells rechargeable lithium-ion batteries and energy storage systems worldwide, and certain of its officers and directors violated the federal securities laws. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company had severe manufacturing deficiencies at its Livonia, Michigan manufacturing facility, which produced defective prismatic cells that resulted in premature failure of battery modules and packs; (ii) as a result of the defective prismatic cells, A123 would likely be required -- and incur substantial costs -- to recall and replace the affected modules and packs, threatening the financial viability of the Company; and (iii), as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times.

If you are a member of the class, you may, no later than June 1, 2012, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/A123/, or contact Izard Nobel LLP toll-free: (800)797-5499, or by e-mail: firm@izardnobel.com. For more information about class action cases in general, please visit our website: www.izardnobel.com.

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