SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

July 25, 2011 16:09 ET

Levi & Korsinsky Notifies Investors With Losses on Their Investment in Satcon Technology Corp. of Class Action Lawsuit and the September 16, 2011 Lead Plaintiff Deadline

NEW YORK, NY--(Marketwire - Jul 25, 2011) - Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the District of Massachusetts on behalf of purchasers of Satcon Technology Corp. ("Satcon" or the "Company") (NASDAQ: SATC) common stock between March 4, 2010 through July 5, 2011 (the "Class Period").

For more information, click here: http://zlk.9nl.com/SATC.

The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's business practices and financial results. In particular, defendants misrepresented and/or failed to disclose that: (a) the Company was experiencing a decrease in sales; (b) due to changes in government incentives, the Company's European market was performing below expectations; (c) the Company failed to account properly for its inventory; (d) as a result of the aforementioned, defendants lacked sufficient basis for their positive statements regarding the Company's prospects.

If you are a member of the class and suffered a loss in Satcon stock, you have until September 16, 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 Levi, Esq. either via email at jlevi@zlk.com or by telephone at (877) 363-5972, or visit http://www.zlk.com/satcon-technology-satc.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