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Harwood Feffer LLP Announces Investigation Of Active Power Inc


Wednesday, 11 Sep 2013 10:10pm EDT 

Harwood Feffer LLP announced that it is investigating potential claims against the board of directors of Active Power Inc concerning whether the board has breached its fiduciary duties to shareholders. In April 2013, the Company announced a purported strategic partnership with Digital China Information Service Limited (Digital China). On September 5, 2013, Active Power retracted its guidance for the third quarter of 2013 and stated that the strategic partnership that it had supposedly previously entered into with Digital China was actually with an entity that 'is neither an affiliate nor a subsidiary' of Digital China. The investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing. 

Company Quote

2.24
-0.0070 -0.31%
26 Aug 2014