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Advanced Battery Technologies, Inc. Under Long Term Investor Investigation

  • If you are a current long term investor in shares of Advanced Battery Technologies, Inc. (NASDAQ:ABAT) including those who purchased NASDAQ ABAT shares (also) prior to March 16, 2009 and continue to hold those NASDAQ:ABAT shares, you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Investigation Overview

Company
Advanced Battery Technologies, Inc.
Security
NASDAQ: ABAT

Summary

An investor in Advanced Battery Technologies filed a lawsuit against Advanced Battery Technologies, Inc over alleged securities laws violation only on behalf of those who purchased shares of Advanced Battery Technologies, Inc. March 16, 2009 through March 29, 2011. Meanwhile an investigation on behalf of current long term investors in shares of Advanced Battery Technologies, Inc. (NASDAQ:ABAT) including those who purchased (also) prior to March 2009 and presently continue to hold those shares was announced.

The investigation by a law firm on behalf of current long term investors in stocks of Advanced Battery Technologies, Inc. (NASDAQ:ABAT) concerns whether certain current and/or former members of Advanced Battery Technologies board of directors and certain executive officers can be held liable in connection with the alleged Securities Laws violations in the lawsuit filed by investors who purchased ABAT shares only between March 16, 2009 through March 29, 2011. According to the complaint filed in in the U.S. District Court for the Southern District of New York the plaintiff alleges that Advanced Battery Technologies made a number of misrepresentations in its public filings with the Securities Exchange Commission and in its press releases.

Advanced Battery Technologies reported an increase in its 12months Total Revenue from $31.90million in 2007 to $97.13million in 2010. Its Net Income went from $10.21million in 2007 to $36.73million in 2010.

Shares of Advanced Battery Technologies, Inc. traded in 2006 as low as $0.50 per share and increased in 2007 to as high as $8.33 per share. During 2008 ABAT shares fell to $1.34 per share but increased in 2009 to $4.76 per share. During 2010 ABAT shares traded around $4 per share. During the first months in 2011 ABAT shares traded slightly under $4.
Then on March 30, 2011 an equity research firm called Variant View Research (Variant View) published an article alerting investors to a number of potential red flags of fraud at Advanced Battery.
Following the report shares of Advanced Battery Technologies, Inc. fell from $3.5 per share to under $2 during March 30, 2011.

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