NEW ORLEANS, March 18, 2013 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 13, 2013 to file lead plaintiff applications in a securities class action lawsuit against Maxwell Technologies, Inc. (Nasdaq:MXWL), if they purchased the Company's common stock during the period between April 28, 2011 and March 7, 2013, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of California.
What You May Do
If you purchased shares of Maxwell Technologies and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn (lewis.kahn@ksfcounsel.com), toll free, 877-515-1850, or via cell phone any time at 504-301-7900. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by May 13, 2013.
About the Lawsuit
Maxwell and certain of its senior executives are charged with issuing a series of materially false and misleading statements, during the Class Period, in violation of federal securities laws.
These false statements and omissions included, in part, the following: (i) the Company was suffering from deficient internal controls and procedures; (ii) the Company had filed to disclose its true financial and operational condition; and (iii) the Company failed to disclose that its financial statements were materially false and misleading.
On March 8, 2013 shares of Maxwell fell 11% to close at $8.10. This decline followed the announcement that Maxwell would restate its financial results for 2011 and 2012, due to errors related to the recognition of revenue.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.