SOURCE: Levi & Korsinsky LLP

Levi & Korsinsky LLP

July 06, 2011 13:05 ET

Levi & Korsinsky Notifies Investors With Losses on Their Investment in A-Power Energy Generation Systems, Ltd. of Class Action Lawsuit and the September 2, 2011 Lead Plaintiff Deadline

NEW YORK, NY--(Marketwire - Jul 6, 2011) - Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the District of Nevada on behalf of purchasers of A-Power Energy Generation Systems, Ltd. ("A-Power" or the "Company") (NASDAQ: APWR) who purchased between August 27, 2009 and June 27, 2011 (the "Class Period").

For more information, click here: http://www.zlk.com/apower-energy-generation-awpr.

The complaint alleges that during the Class Period, defendants violated federal securities laws by issuing false and misleading statements regarding the Company's business and financial results. In particular, the Complaint alleges that the Company lacked adequate internal controls to properly account for A-Power's related-party transactions. As a result of the defendants' false statements, A-Power's stock traded at artificially inflated prices during the Class Period.

On June 26, 2011, A-Power's independent auditor resigned, citing the Company's failure to retain a "qualified independent forensic accounting firm to evaluate certain business transactions..." As a result of this resignation, the Company announced that it would delay filing its Form 20-F for the fiscal year ending December 31, 2010. Upon this news, NASDAQ halted trading of A-Power stock at the end of business on June 27, 2011.

If you are a member of the class and suffered a loss in A-Power stock, you have until September 2, 2011 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery is not affected by the decision whether or not to serve as a lead plaintiff. To obtain additional information about your rights, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (877) 363-5972, or visit http://www.zlk.com/apower-energy-generation-awpr.html.

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT:
    Levi & Korsinsky, LLP
    Joseph Levi, Esq.
    Eduard Korsinsky, Esq.
    30 Broad Street - 15th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com