Izard Nobel LLP Announces Class Action Lawsuit Against Akeena Solar, Inc.

WEST HARTFORD, CT, May 27 (MARKET WIRE) --
The law firm of Izard Nobel LLP, which has significant experience
representing investors in prosecuting claims of securities fraud,
announces that a lawsuit seeking class action status has been filed in
the United States District Court for the Northern District of California
on behalf of those who purchased the common stock of Akeena Solar, Inc.
("Akeena" or the "Company") (NASDAQ: AKNS) between December 26, 2007 and
March 13, 2008, inclusive (the "Class Period").

The Complaint charges that Akeena and certain of its officers and
directors violated federal securities laws by making materially false and
misleading statements regarding the Company's sales, financial
performance and condition. Specifically, defendants failed to disclose
the following facts: (i) the backlog number the Company had previously
reported was unreliable; (ii) Akeena's gross profit margins were
declining; (iii) the Company's net losses were dramatically increasing;
and (iv) the $17.5 million "increase" in Akeena's credit line announced
on December 26, 2007 was merely a cash collateralization agreement which
simply increased the Company's restricted cash.

When the truth was finally revealed, Akeena's common stock, which had
traded as high as $16.80 on January 7, 2008, fell to a close of $6.15 per
share on March 13, 2008.

If you are a member of the class, you may, no later than July 17, 2009,
request that the Court appoint you as lead plaintiff of the class. A lead
plaintiff is a class member that acts on behalf of other class members in
directing the litigation. Although your ability to share in any recovery
is not affected by the decision whether or not to seek appointment as a
lead plaintiff, lead plaintiffs make important decisions which could
affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to
view a copy of the Complaint initiating the class action or for more
information about the case, and your rights, visit:
www.izardnobel.com/akeena/, or contact Izard Nobel LLP toll-free at (800)
797-5499, or by e-mail: firm@izardnobel.com. For more information about
class action cases in general, please visit our website:
www.izardnobel.com.

CONTACT:
Nancy A. Kulesa or Wayne Boulton
(800) 797-5499
www.izardnobel.com
Email Contact

Copyright 2009, Market Wire, All rights reserved.

-0-