What Is the Capstone Green Energy Corporation Class Action Lawsuit About?
Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Capstone Green Energy Corporation (“Capstone” or “the Company”) (OTCMKTS: CGRNQ) and certain of its officers.
Class Definition:
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Capstone securities between June 14, 2021 and September 22, 2023, inclusive (the “Class Period”). Such investors are encouraged to join this case.
Case Details:
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company had engaged in “bill and hold transactions” with customers; (2) that these transactions were not reported pursuant to generally accepted accounting principles (“GAAP”); (3) that, “as a result of apparent errors primarily related to revenue recognition associated with bill and hold transactions” the Company lacked a reasonable basis to report certain financial results and was reasonably likely to restate its financial statements; and (4) that, as a result of the foregoing, Defendant’s positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
What’s Next?
A class action lawsuit has already been filed. You can review a copy of the Complaint or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Capstone you have until December 12, 2023, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
How Did Capstone Green Energy Corporation Stock React to the Disclosures?
How Is BG&G Representing Investors in Securities Class Actions?
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
“Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace.”