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If you purchased common stock of Broadwind Energy Inc. (NASDAQ:BWEN) including between March 17, 2009 and August 9, 2010, and/or if you have any information relating the investigation, including also former employees and/or whistleblowers, you have certain options and you should contact the Shareholders Foundation, Inc.
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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
An investigation for investors in shares of Broadwind Energy Inc. (NASDAQ:BWEN) over possible violations of Federal Securities Laws by Broadwind Energy Inc. was announced.
The investigation by a law firm focuses on whether a series of statements regarding Broadwind Energys business, its prospects and its operations were materially false and misleading at the time they were made.
Broadwind Energy Inc. reported between 2006 and 2009 a substantial increase in its 12months Total Revenue. While Broadwind Energy reported $4.02million in 12months Total Revenue in 2006 it reported in 2008 $217.32million and in 2009 $197.83million. For the first three quarters in 2010 Broadwind Energy Inc. reported a combined 9months Total Revenue of $97million.
Shares of Broadwind Energy Inc. (Public, NASDAQ:BWEN) Traded in April 09 as low as $6.15 per share but then increased until July 09 to $11.32 per share. BWEN sahres fell during the next couple months to $5.56 in November before increasing to $9.74 in December 2009. Since then BWEN share fell to recently $1.89 per share with a current 52weekHigh of $5.71 per share. Specifically, the investigation seeks also to determine, among other things, whether Broadwind Energy improperly delayed the recognition of the impairment of its goodwill and intangible assets related to its R.B.A., Inc. subsidiary.
