LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces an 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. To obtain information or aid in the investigation, please visit the Ballard investigation page on our website at www.glancylaw.com/case/ballard-power-systems-inc.
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.
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If you purchased Ballard securities, have information or 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 Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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