SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

June 24, 2014 16:36 ET

SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Investors of Class Action Against Ocean Power Technologies, Inc. and Its Board of Directors and a Lead Plaintiff Deadline of August 12, 2014 -- OPTT

NEW YORK, NY--(Marketwired - Jun 24, 2014) - Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the District of New Jersey on behalf of investors who purchased Ocean Power Technologies, Inc. ("Ocean Power" or the "Company") (NASDAQ: OPTT) common stock between January 14, 2013 and June 9, 2014.

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The complaint alleges that throughout the Class Period defendants made materially false and misleading statements and/or omitted materially adverse facts regarding the Company's business, operations, and prospects.

On June 10, 2014, Ocean Power disclosed that its Chief Executive Officer, Charles F. Dunleavy, was terminated, and that the Board of Directors had appointed a Special Committee to investigate an agreement between Victorian Wave Partners and the Australian Renewable Energy Agency. Shares of Ocean Power have fallen from a close of $2.47 per share on June 9, 2014, to a recent close of just $1.70 per share on June 16, 2014.

If you suffered a loss in Ocean Power you have until August 12, 2014 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit

Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. 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

    Levi & Korsinsky, LLP
    Joseph Levi, Esq.
    Eduard Korsinsky, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (866) 367-6510