EXIDE SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess ...
17 Abril 2013 - 11:00PM
Marketwired
Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former
Attorney General of Louisiana, Charles C. Foti, Jr., remind
investors that they have until
June 14, 2013
to file lead plaintiff applications in a securities class action
lawsuit against Exide Technologies (NASDAQ: XIDE), if they
purchased the Company's securities during the period between
February 9, 2012 and April 3, 2013, inclusive (the "Class Period").
This action is pending in the United States District Court for the
Central District of California.
What You May Do
If you purchased shares of Exide and would like to discuss your
legal rights and how this case might affect you and your right to
recover for your economic loss, you may, without obligation or cost
to you, e-mail or call KSF Partner, Melinda Nicholson at
melinda.nicholson@ksfcounsel.com or toll free at 1-877-515-1850. If
you wish to serve as a lead plaintiff in this class action, you
must petition the Court by June 14, 2013.
About the Lawsuit
Exide and certain of its executives are charged with issuing
materially false and misleading statements, as well as failing to
disclose material adverse facts about the Company's business,
operations, and prospects, during the Class Period, in violation of
federal securities laws.
These false statements and omissions included, in part, the
following: (a) Exide was exposing residents near its Vernon,
California, facility to dangerously high levels of arsenic and
other pollutants; (b) Exide knew that the Company would not be able
to meet its debt repayment obligations and other pledges and
promises under a $200 million revolving facility, a $675 million
bond, and a $55.7 million floating rate convertible note; and (c)
as a result, Exide knew its environmental liabilities, debt
obligations and potential insolvency supported neither Exide's
statements to investors nor its quarterly guidance.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former
Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers
with significant experience litigating complex securities class
actions nationwide on behalf of both institutional and individual
shareholders, you may visit www.ksfcounsel.com.
Contact: Kahn Swick & Foti, LLC Melinda Nicholson Partner
1-877-515-1850 melinda.nicholson@ksfcounsel.com 206 Covington St.
Madisonville, LA 70447
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