Key Developments: Active Power Inc (ACPW.O)

ACPW.O on Consolidated Issue listed on NASDAQ Capital Market

1.99USD
22 Sep 2014
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Latest Key Developments (Source: Significant Developments)

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.  Full Article

Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Active Power Inc
Wednesday, 11 Sep 2013 10:19am EDT 

Bronstein, Gewirtz & Grossman, LLC announced that it is investigating potential claims on behalf of purchasers of the securities of Active Power Inc (Active Power or the Company). The investigation focuses on whether the Company and its executives violated federal securities laws. On September 6, 2013, shares of Active Network fell $0.48 or 13.71% to close at $3.02 after the Company retracted its guidance after the close of trading on September 5, 2013. On April 30, 2013, Active Power announced that it had entered into a "[n]ew strategic distribution partnership agreement with Digital China Information Service Limited." The Company represented that this relationship with Digital China would allow the Company to increase its revenues and profitability. Then on September 5, 2013, after close of trading, the Company retracted its guidance, citing disappointing results in China. The Company attributed the Company's poor result to the fact that the company's previously announced agreement in China is with Qiyuan Network System Limited, which the company's management discovered is neither an affiliate nor a subsidiary of Digital China Information Service Company Limited.  Full Article

Pomerantz Law Firm Investigates Claims On Behalf Of Investors Of Active Power Inc
Tuesday, 10 Sep 2013 07:56pm EDT 

Pomerantz Grossman Hufford Dahlstrom & Gross LLP announced that it is investigating claims on behalf of investors of Active Power Inc. The investigation concerns whether Active Power and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. On April 30, 2013, Active Power announced that it had entered into a "[n]ew strategic distribution partnership agreement with Digital China Information Service Limited. The Company represented that this relationship with Digital China would allow the Company to increase its revenues and profitability. On September 5, 2013, after close of trading, the Company retracted its guidance, citing disappointing results in China. The Company attributed the Company's poor result to the fact that "the company's previously announced agreement in China is with Qiyuan Network System Limited, which the company's management discovered is neither an affiliate nor a subsidiary of Digital China Information Service Company Limited." On this news, shares of Active Power fell $0.48 per share to more than 13.71% from the opening price of $3.50 on September 5, 2013 to close at $3.02 on September 6, 2013.  Full Article

Glancy Binkow & Goldberg LLP Announces Investigation of Active Power, Inc.
Tuesday, 10 Sep 2013 04:57pm EDT 

Glancy Binkow & Goldberg LLP announced that it is investigating potential claims on behalf of investors of Active Power, Inc. concerning possible violations of federal securities laws. The investigation concerns certain statements issued by Active Power between April 30, 2013 and September 5, 2013. On September 5, 2013, the Company disclosed that the April 30, 2013 announcement was erroneous, and that actually the Company had entered into a partnership agreement with an entity not affiliated with the information technology company in China. Following this news, Active Power shares declined $0.48 per share, or 13.71%, to close on September 6, 2013, at $3.02 per share, on unusually heavy trading volume.  Full Article

The Rosen Law Firm Files Securities Fraud Class Action Against Active Power Inc
Tuesday, 10 Sep 2013 04:33pm EDT 

The Rosen Law Firm, P.A. announced that it has filed a class action lawsuit on behalf of purchasers of Active Power, Inc. securities during the period from April 30, 2013 to September 5, 2013, seeking to recover damages for violations of the federal securities laws. According to the suit, Active Power issued materially false and misleading statements about its business. On April 30, 2013, Active Power announced that it had entered into a new strategic distribution partnership agreement with Digital China Information Service Limited, the largest IT solutions provider in China. The Company represented that this relationship with Digital China would allow the Company to increase its revenues and profitability, adding that we have already engaged with Digital China on large data center projects for which we anticipate field product deployment later this year. On September 5, 2013, after close of trading, the Company retracted its guidance, citing disappointing results in China. The Company attributed the poor to the fact that the Company's previously announced agreement in China is with Qiyuan Network System Limited, which the Company's management discovered is neither an affiliate nor a subsidiary of Digital China Information Service Company Limited. According to the Complaint, this adverse news caused the price of Active Power stock to fall, damaging investors.  Full Article

The Law Firm of Levi & Korsinsky, LLP Launches Investigation Into Possible Violations Of Federal Securities Laws By Active Power Inc
Monday, 9 Sep 2013 12:37pm EDT 

Levi & Korsinsky announced that it is investigating potential claims on behalf of purchasers of Active Power Inc. (ACPW or the Company) stock. On April 30, 2013, ACPW announced that it had entered into a partnership agreement with Digital China Information Service Limited, the largest IT solutions provider in China. Then on September 5, 2013, ACPW retracted its guidance for the third quarter ending September 30, 2013 and stated that the previously announced agreement in China is with Qiyuan Network System Limited, a company unrelated to Digital China Information Service Company Limited. On this news, shares of ACPW stock declined $0.48 per share, or 13.71%, to close on September 6, 2013 at $3.02 per share.  Full Article

Law Offices of Howard G. Smith Announces Investigation On Behalf Of Investors Of Active Power Inc
Friday, 6 Sep 2013 07:27pm EDT 

Law Offices of Howard G. Smith announced that it is investigating potential claims on behalf of purchasers of the securities of Active Power Inc concerning possible violations of federal securities laws. The investigation focuses on allegations that certain statements issued by the Company regarding its business, operations and financial condition were false and misleading. On April 30, 2013, ACPW announced that it had entered into a partnership agreement with an infrastructure technology company in China. The investigation relates to the Company's September 5, 2013 disclosure that ACPW`s April 30, 2013 announcement was made in error and that the Company had actually entered into a partnership agreement with an entity that was not affiliated with the information technology company in China. On this news, shares of the Company's stock declined $0.48 per share, or 13.71%, to close on September 6, 2013, at $3.02 per share, on unusually heavy trading volume.  Full Article

Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Active Power Inc
Friday, 6 Sep 2013 05:29pm EDT 

Shareholder Rights Law Firm Johnson & Weaver, LLP announced that it is investigating if a securities violation was committed by Active Power Inc, when it misrepresented material facts about a partnership agreement they had entered into on April 30, 2013. On September 5, 2013, Active Power retracted these statements made in April. Shareholders were told that Active Power`s previously announced agreement in China is with Qiyuan Network System Limited (not DCITS). Active Power`s management had discovered Qiyuan is neither an affiliate nor a subsidiary of Digital China Information Service Company Limited (DCITS). On this news, Active Power`s stock dropped 14% the next trading day. This investigation will determine whether shareholders were harmed by the incorrect statements and outlook presented in April 2013.  Full Article

Active Power Inc Issues Q3 2013 Guidance Below Analysts' Estimates
Tuesday, 30 Jul 2013 04:06pm EDT 

Active Power Inc announced that for the third quarter 2013, it expects revenue to range between $15 million and $18 million and earnings per share(EPS) is expected to range between $(0.09) and $(0.04). According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $23 million and EPS of $0.01 for the third quarter of 2013.  Full Article

Active Power Inc Appoints Dr. Ake Almgren As Interim President and CEO
Tuesday, 9 Jul 2013 05:21pm EDT 

Active Power Inc announced that Dr. Ake Almgren, the Company's Chairman of the board, will become the Company's interim President and CEO. Dr. Almgren will succeed Doug Milner, who submitted his resignation as president and CEO effective July 29, 2013, and informed the company's board he has accepted an offer to pursue a new opportunity. Milner also resigned from the company's board of directors effective July 8, 2013.  Full Article

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