NEW YORK, NY, May 29 (MARKET WIRE) --
The Rosen Law Firm, P.A. announces that a class action lawsuit was
commenced on behalf of purchasers of the common stock of Akeena Solar,
Inc. ("Akeena" or the "Company") (NASDAQ: AKNS) during the period between
December 26, 2007 and March 13, 2008, inclusive (the "Class Period").
To join the Akeena class action, go to the website at
http://www.rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim,
Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or
pkim@rosenlegal.com for information on the class action. If you wish to
serve as a lead plaintiff, you must move the Court no later than July 17,
2009.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS
CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU
MAY ALSO REMAIN AN ABSENT CLASS MEMBER. YOU MAY ALSO RETAIN COUNSEL OF
YOUR CHOICE.
The Complaint, pending in the U.S. District Court for the Northern
District of California, asserts claims under Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934. The Complaint alleges that Akeena and
certain of its officers and directors issued to the marketplace materially
false and misleading statements and concealed material facts concerning
(a) the Company's reported backlog of orders; (b) the Company's gross
profit margins and net losses; and (c) that the Company's purported
credit line increase was in reality an undisclosed collateralization
agreement that merely increased Akeena's restricted cash. The Complaint
asserts that upon the disclosure of this adverse information, the value
of Akeena's stock decreased dramatically injuring investors.
A class action lawsuit has already been filed on behalf of Akeena
shareholders. If you wish to join the litigation or to discuss your rights
or interests regarding this class action, please contact plaintiff's
counsel, Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm
toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com or
pkim@rosenlegal.com.
The Rosen Law Firm represents investors throughout the world, focusing its
practice in securities class actions and shareholder derivative
litigation.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Laurence Rosen, Esq.
Email Contact
Phillip Kim, Esq.
Email Contact
The Rosen Law Firm P.A.
350 5th Avenue, Suite 5508
New York, New York 10118
Tel: (212) 686-1060
Weekends Tel: (917) 797-4425
Toll Free: 1-866-767-3653
Fax: (212) 202-3827
www.rosenlegal.com
Copyright 2009, Market Wire, All rights reserved.
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