Law Offices of Howard G. Smith announces that it is investigating potential claims against Maxwell Technologies, Inc. (“Maxwell” or the “Company”) (NASDAQ:MXWL) concerning possible violations of federal securities laws. The investigation focuses on allegations that certain statements issued by the Company between April 28, 2011 and March 7, 2013, regarding Maxwell’s business, operations and prospects were false and misleading.
Maxwell develops, manufactures, and markets energy storage and power delivery products, and microelectronic products worldwide. Specifically, the investigation relates to Maxwell’s March 7, 2013 announcement that the Company’s previously issued financial statements contained in its annual report on Form 10-K for the year ended December 31, 2011, and all unaudited quarterly reports on Form 10-Q in 2011 and 2012, respectfully, should no longer be relied upon because of errors in those financial statements. According to the Company, the errors relate to the timing of recognition of revenue from sales to certain distributors. As the Company explained, “the investigation discovered arrangements with certain of our distributors regarding the payment terms for sales to such distributors with respect to certain transactions. These arrangements had not been communicated to our finance and accounting department and, therefore, had not been considered when recording revenue on shipments to these distributors.” The Company further disclosed that “as a result of our investigation, certain employees were terminated and our Sr. Vice President of Sales and Marketing resigned as reported in Item 5.02 of this Form 8-K.”
If you purchased Maxwell securities between April 28, 2011 and March 7, 2013, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at 215-638-4847, Toll Free at 888-638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
.is(':checked'))MM_swapImgRestore(); else MM_swapImage('Checkbox1','','http://im.mstar.com/Im/Mbr/Form_PremCheckbox_Checked.gif',1);void($('#emailMe').attr('checked', !$('#emailMe').is(':checked')))){kind=small}
News More...
| Maxwell Technologies, Inc. | View mxwl Stock Quote | |||
| Maxwell Technologies, Inc. | View mxwl Stock Quote | |||
| Start Premium Trial | Register For Free |
| P | F | Fund Financial Data (13,000+ funds) |
| P | F | Stock Financial Data (7,000+ stocks) |
| P | F | Stock and Fund Screeners (basic) |
| P | F | Investing Articles and Market Commentary |
| P | F | Articles Archive (>30 days) |
| P | F | Discuss (dozens of stock, fund, bond, and general bulletin boards) |
| P | F | Portfolio Manager (basic) |
| P | F | Morningstar Investment Classroom |
| P | F | Morningstar Investing Classroom Rewards (earn as you learn and redeem for Morningstar merchandise) |
| P | Morningstar Fund Analyst Reports (full research on 2,000 funds and ETFs) | |
| P | Morningstar Stock Analyst Reports (full research on 2,000 stocks) | |
| P | Morningstar Stock and Fund Stewardship Grades | |
| P | Portfolio Manager (advanced with 10 x-ray analyses, including guidance) | |
| P | Portfolio Monitor (monthly and on-demand personalized portfolio statements) | |
| P | Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more) | |
| P | Morningstar Stock and Fund Favorites & Red Flags eNewsletters | |
| P | Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you) | |
| P | Discounts on Morningstar newsletters, books, seminars, and more |