Tuesday, September 17, 2013

Active Power Sued By Investor

Austin-based Active Power is being targeted by a class action law firm, Robbins Arroyo LLP. According to Robbins Arroyo, it is representing an investor of Active Power, claiming the company has violated the Securities Exchange Act of 1934. Arroyo is targeting what it called an "artificially inflated prices" of the stock due to "false and misleading statements" about expansions into China. The lawsuit came after a big drop in Active Power's stock earlier this month on disappointing results in that country.