Atlantic Power Corp Investor Alert: Those who purchased NYSE:AT in 2010 should act
The Shareholders Foundation announces that an investigation specifically for investors in shares Atlantic Power Corp (NYSE:AT) shares, who purchased their NYSE:AT in July or August 2010, was initiated over potential securities laws violations.
Boston, MA based Atlantic Power Corporation owns and operates a fleet of power generation and infrastructure assets in the United States and Canada.
Investors who purchased shares of Atlantic Power Corp (NYSE:AT) in July or August 2010, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on special claims on behalf of purchasers of the securities of Atlantic Power Corp (NYSE:AT) in July or August 2010.
An investor recently filed a lawsuit in the U.S. District Court for the District of Massachusetts against Atlantic Power Corp. The plaintiff alleges that the company and its President and Chief Executive Officer violated the Securities Exchange Act of 1934 by issuing between August 8, 2012 and February 28, 2013 allegedly materially false and misleading statements regarding the company’s common stock dividend in 2012 and 2013. Specifically, the plaintiff claims that the sustainability of Atlantic Power Corp’s stock dividend was regarded by the Company as one of its corporate objectives and between August 8, 2012 and February 28, 2013 on numerous occasions defendants stated they were studying cash flows and the sustainability of a dividend.
However, on Feb. 28, 2013, the company reported its fourth quarter and Year End 2012 results. Among other things the company also issued its 2013 guidance and announced a dividend reduction.
NYSE:AT shares declined from $10.26 on Feb. 28, 2013 to as low as $4.56 on March 26, 2013.
On April 5, 2013, NYSE:AT shares closed at $4.80 per share, which is significantly below its 52 week High of $15.18 per share.
Those who purchased NYSE:AT shares in July or August 2010, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego