FEBRUARY 2012 - Proposed $3 million settlement.
JANUARY 2011 - Shareholder class action in California alleging they failed to halt a criminal scheme to bribe Chinese government officials in exchange for electric utilities contracts.

Maxwell Technologies Inc. previously disclosed that it has been conducting an internal investigation, and providing information and documents to the United States Securities and Exchange Commission and the Department of Justice about “commissions” paid to a sales representative in connection with the sale of its products in China.

Maxwell Technologies Inc announced “these payments equaled the difference between the quoted price for certain products and the amount that the independent sales agent was able to sell such products to certain customers in China. These payments had previously been recorded as commissions; however, a portion of those payments may actually have been rebated directly or indirectly to customers”. Maxwell Technologies said it recorded commissions to the agent of $1.8 million, $653,000 and $178,000 for the years ended December 31, 2008, 2007 and 2006, respectively. Maxwell terminated its relationship with this independent sales agent as of May 20, 2009.

Maxwell Technologies’ Total Revenue increased over the past four years from $56.71million in 2007 to $121.88million in 2010. However, Maxwell Technologies had to in all four years a Net

Shares of Maxwell Technologies Inc. (MXWL) rose from as low as $4.69 in January 09 to as high as $20.97 in October 09, however recently NASDAQ: MXWL stock traded at slightly below $15 per share.