NEW YORK--(BUSINESS WIRE)--Kirby McInerney LLP announced today that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of investors who acquired Altair Nanotechnologies, Inc. (“Altair” or the “Company”) (OTC: ALTI) securities during the period from May 15, 2013 through September 4, 2014 (the “class period”). Pursuant to applicable law, investors have until November 25, 2014 to file a motion to be appointed as lead plaintiff in the investor lawsuit.
The lawsuit charges that during the class period the Company lacked adequate controls to perform a timely and accurate review of transactions in its subsidiaries at an appropriate level of precision and to ensure timely filings in compliance with its financial reporting requirements. On September 4, 2014, the Company revealed that Crowe Horwath LLP, the Company’s independent registered public accounting firm, resigned. According to the Form 8-K that the Company filed with the SEC, Crowe indicated that it was resigning due in part due to the Company’s lack of controls and procedures to ensure accurate and timely communications between the Company's operations teams in China and its U.S.-based accounting team. As a result of this disclosure, NASDAQ halted trading of Altair's shares on September 4, 2014 at $4.30 per share.
Altair shares resumed trading on September 24, 2014, and closed that day at $0.95.
If you acquired Altair securities during this period and you are interested in learning more about this matter and any rights you might have with respect to these claims, contact Andrew McNeela, Esq. at firstname.lastname@example.org or Wilona Karnadi at email@example.com, by telephone at (212) 371-6600, or by filling out this form. Please bear in mind that some of these rights may be time-sensitive.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, whistleblower, antitrust and consumer litigation. The firm has specialized in complex litigation, including securities class actions, for several decades. Kirby McInerney LLP has repeatedly demonstrated its expertise in this field, and has been recognized by various courts that have appointed the firm to major positions in consolidated and multi-district litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars, and the firm’s achievements and quality of service have been chronicled in numerous published decisions. Additional information about the firm or the claims against Altair can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.