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If you purchased shares of Ener1, Inc. (NASDAQ:HEV), and/or if you have any information relating the investigation, 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 on behalf of investors in shares of Ener1, Inc. (NASDAQ:HEV) over possible violations of Federal Securities Laws was announced.
The investigation by a law firm concerns on whether the Ener1, Inc. or others have violated federal securities laws by issuing false and misleading statements to the investing public.
Despite a substantial increase in Ener1, Incs 12months Total Revenue from $0.28million in 2007 to $77.41million in 2010, its Net Income decreased from a Net Loss of $63.94million in 2007, respectively $51.00million in 2009 to a Net Loss of $68.80million in 2010.
Shares of Ener1, Inc. (Public, NASDAQ:HEV) fell from as high as $7.29 per share during 2009 to under $3 per share during July 2010. HEV shares were able to reach $4.60 per share in November and traded during January 2011 at $4.22.
Then on May 11, 2011, Ener1 reported its first quarter 2011 results. Ener1 Inc reported a first-quarter loss of 84.7 million, or $0.51 a share, due primarily to an impairment charge of $59.4 million related to the write-down of its investment in Think Holdings, AS a Norwegian limited liability company and the majority owner of Think Global, AS an electric vehicles EV manufacturer.
The average estimate of analysts was for a loss of 7 cents a share in the March quarter.
HEV shares fell from $2.45 on May 10 to $1.44 during May 13 and closed on Friday May 13, 2011 at $1.51 per share.
