BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith continues its investigation on behalf of Ballard Power Systems Inc. (“Ballard” or the “Company”) (NASDAQ: BLDP) investors concerning the Company and its officers’ possible violations of federal securities laws.
On January 25, 2018, Spruce Point Capital Management published a report asserting, among other things, that Ballard misrepresented its operations. For example, the report alleges that contrary to Ballard’s public statements, “there are no demonstration lines operating in Guangdong and that no bus lines are in service in Sanshui or Yunfu.” The report further stated that local press releases indicate that Foshan has produced 114 fuel cell vehicle buses, but that a Foshan employee claimed that “far fewer buses have been produced to date and only 11 are licensed.”
On this news, the Company’s share price fell more than 20% over two trading sessions, thereby injuring investors.
If you purchased Ballard securities, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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