Holzer Holzer & Fistel, LLC Has Filed a Class Action Lawsuit Against Powerwave Technologies Inc.; Reminds Investors of Approaching Lead Plaintiff Deadline
(firmenpresse) - ATLANTA, GA -- (Marketwire) -- 03/27/12 -- Holzer Holzer & Fistel, LLC announces that it has filed a class action lawsuit in the United States District Court for the Central District of California on behalf of purchasers of Powerwave Technologies Inc. ("Powerwave" or the "Company") (NASDAQ: PWAV) common stock who purchased shares between February 1, 2011 and October 18, 2011, inclusive (the "Class Period"). The lawsuit alleges, among other things, that Powerwave knew but failed to timely disclose: (i) that the Company was experiencing a dramatic decline in demand from customers in its North American markets; and (ii) that the Company was rapidly burning through its free cash flow as revenues declined and expenses increased.
If you purchased Powerwave common stock during the Class Period, you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made no later than April 9, 2012. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you are a Powerwave investor and would like to discuss a potential lead plaintiff appointment, or your rights and interests with respect to the lawsuit, you may contact Michael I. Fistel, Jr., Esq., or Marshall P. Dees, Esq. via email at , or , or via toll-free telephone at (888) 508-6832.
Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, and upon request from the firm.
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Datum: 27.03.2012 - 15:24 Uhr
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News-ID 128988
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