LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Capstone Green Energy Corporation (“Capstone” or the “Company”) (NASDAQ: CGRN) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On September 15, 2023, Capstone disclosed that it would be unable to file its Annual Report for the year ended March 31, 2023 on time. On this news, Capstone’s stock price fell $0.06, or 8.9%, to close at $0.6196 per share on September 18, 2023, thereby injuring investors.
Then, on September 22, 2023, Capstone disclosed that, as a result of errors related to revenue recognition associated with bill and hold transactions, certain previously issued financial statements were materially incorrect, should no longer be relied upon, and would need to be restated.
On September 28, 2023, Capstone announced that it had declared Chapter 11 bankruptcy.
Then, on October 3, 2023, Capstone disclosed that it had entered into a Material Definitive Agreement and Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. On this news, Capstone’s stock price fell $0.1852, or 37.4%, to close at $0.31 per share on October 3, 2023, thereby injuring investors further.
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If you purchased Capstone 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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