NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Capstone Green Energy Corporation f/k/a Capstone Turbine Corporation (NASDAQ: CGRN) (OTC: CGRNQ) resulting from allegations that Capstone Green Energy may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Capstone Green Energy securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=19761 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email firstname.lastname@example.org or email@example.com for information on the class action.
WHAT IS THIS ABOUT: On September 15, 2023, Capstone Green Energy disclosed that it would be unable to file its Annual Report on time. On this news, Capstone Green Energy’s stock price fell 8.9% to close at nearly $0.62 per share on September 18, 2023.
Then, on September 22, 2023, Capstone Green Energy disclosed that 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 Green Energy announced that it had filed for Chapter 11 bankruptcy. On this news, Capstone Green Energy’s stock price fell 16% to close at $0.50 per share on September 28, 2023.
Finally, on October 3, 2023, Capstone Green Energy disclosed that, relating to its filing for Chapter 11 bankruptcy, 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 Green Energy's stock price fell 37%, to close at $0.31 per share on October 3, 2023.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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