NEW YORK, March 22, 2013 (GLOBE NEWSWIRE) -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Maxwell Technologies, Inc. ("Maxwell" or the "Company") who purchased Maxwell common stock between April 28, 2011 and March 06, 2013 (the "Class Period"). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 237.
The investigation concerns whether Maxwell and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On March 1, 2013 the company announced: (a) Maxwell had overstated its revenues and earnings in 2011 and 2012 and the financial statements should no longer be relied upon; (b) Maxwell had reported revenues prior to the time the sales price was fixed and/or collection was reasonably assured; and (c) Maxwell's internal accounting controls were deficient and permitted the premature recognition of revenue, leading to materially misstated financial results (d) as a result of the above, the Company's financial statements may be materially false and misleading at all relevant times.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT: Robert S. Willoughby
Pomerantz Grossman Hufford Dahlstrom & Gross LLP
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