NYSE:AT Investor Alert: Deadline in Lawsuit against Atlantic Power Corp on May 8
The Shareholders Foundation announces that a deadline is coming up on May 8, 2013 in the lawsuit filed for investors of Atlantic Power Corp (NYSE:AT) over alleged securities laws violations in connection with certain allegedly false and misleading statements made between August 8, 2012 and February 28, 2013.
Boston, MA based Atlantic Power Corporation owns and operates a fleet of power generation and infrastructure assets in the United States and Canada.
Investors with a substantial investment in Atlantic Power Corp (NYSE:AT) shares between August 8, 2012 and February 28, 2013, should get active before the Deadline that is coming up on May 8, 2013, and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint filed in the U.S. District Court for the District of Massachusetts the plaintiff alleges on behalf purchasers of NYSE:AT common stock between August 8, 2012 and February 28, 2013, Atlantic Power Corp (“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 the company’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.
Then, 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 $4.58 on April 15, 2103
On May 6, 2013, NYSE:AT shares closed at $4.65 per share, which is significantly below its current 52 week High of $15.18 per share.
Those who purchased shares of Atlantic Power Corp (NYSE:AT) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego