Levi & Korsinsky, LLP announces the filing of a class action lawsuit in the United States District Court for the Central District of California on behalf of shareholders of Capstone Turbine Corporation (NASDAQCM: CPST) who purchased shares between November 7, 2013 and November 5, 2015.
The complaint alleges that defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) BPC Engineering (“BPC”), one of Capstone’s main Russian distributors, was unlikely to be able to fulfill many of its legal and financial obligations to Capstone; (2) Capstone failed to make appropriate adjustments to its accounts receivable and backlog to account for BPC’s inability to fulfill its obligations; (3) Capstone issued financial statements in violation of Generally Accepted Accounting Principles; and (4) Capstone lacked adequate internal controls over accounting. Shares of Capstone Turbine have fallen from a close of $4.30 per share on November 5, 2015, to a recent close of just $1.98 per share on November 17, 2015. If you suffered a loss in Captstone Turbine you have until January 15, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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