After SatCon Technology Corporation announced its preliminary unaudited second quarter results for revenue and gross margin and NASDAQ: SATC shares fell recently under $2 per share an investigation on behalf of investors of SatCon Technology Corporation (NASDAQ: SATC) was initiated over possible securities laws violations by Satcon Technology Corp.

The investigation by a law firm focuses on whether a series of statements made between March 4, 2010 and July 5, 2011, inclusive, regarding SatCon Technology's business, its prospects and its operations were materially false and misleading at the time they were made. Specifically, the investigation focuses on, among other things, whether SatCon Technology Corporation knew but failed to adequately disclose that the company was experiencing a decrease in sales of its inverter systems and whether the Company improperly withheld information regarding its performance in the European market.

While SatCon Technologys annual Total Revenue rose from $33.03million in 2007 to $173.30million in 2010. It had to report over the past four years Net Losses ranging from $11.61million to $29.96million. Its first quarter quarterly Revenue rose from $14.73million to $62million, however, its first quarter Net Loss only decreased from $6.10million to $2.14million.

Shares of SatCon Technology Corporation (NASDAQ:SATC) rose from as low as $1.19 during February 2009 to as high as $5.13 in January 2011.

Then on July 5, Satcon Technology Corporation announced its preliminary unaudited results for revenue and gross margin for its second quarter ended June 30, 2011.

Satcon Technology Corporation said that based on preliminary financial data and subject to the final closing of its financial statements,Satcon Technology Corporation expects second-quarter 2011 revenue will be between $45 million and $47 million, compared with its previously announced guidance of $50 million to $60 million. The company also revised its gross margin estimate for the quarter, which is now expected to be between 7% and 11%, below the company's previously announced guidance of 17% to 20%.

Satcon Technology Corporation also said that it conducted a global restructuring of its workforce that resulted in a 15% reduction in staff.

Shares of SatCon Technology Corporation (Public, NASDAQ:SATC) fell on July 5, 2011 to as low as $1.91 per share.