INVESTOR ALERT: Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Ocean Power Technologies, Inc.
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors that all purchasers of the securities of Ocean Power Technologies, Inc. (“Ocean Power Technologies” or the “Company”) (NASDAQ:OPTT) between January 14, 2014 and June 9, 2014, inclusive (the “Class Period”) have until August 12, 2014, to file a motion to be appointed as lead plaintiff in the shareholder lawsuit.
Ocean Power Technologies engages in the development and commercialization of proprietary systems that generate electricity by harnessing the renewable energy of ocean waves, primarily in the United States, Europe, Asia and Australia. The Complaint alleges that defendants may have misstated the nature and/or circumstances of an agreement between the Australian Renewable Energy Agency and Victorian Wave Partners Pty Ltd − a project-specific operating entity wholly-owned by the Company's subsidiary − related to a planned wave power station project off the coast of Australia. As a result, defendants’ statements concerning the Victorian Wave Partners project, and positive statements about Ocean Power’s business, operations and prospects, were materially false and misleading or lacked a reasonable basis.
If you are a member of the Class described above, you may move the Court no later than August 12, 2014, to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, 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 firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.