A lawsuit was filed for investors in NASDAQ:PWAV shares over alleged securities laws violations by Powerwave Technologies. April 9, 2012 and NASDAQ:PWAV stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/13/2012 -- The Shareholders Foundation announces that an investor in NASDAQ:PWAV shares filed a lawsuit in the U.S. District Court for the Central District of California against Powerwave Technologies, Inc. over alleged Violations of Federal Securities Laws in connection with certain financial statements.
Investors who purchased shares of Powerwave Technologies, Inc. (NASDAQ:PWAV), have certain options and for certain NASDAQ:PWAV stockholders are strict and short deadlines running. Deadline: April 9, 2012. NASDAQ:PWAV stockholders should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of the common stock of Powerwave Technologies, Inc. (NASDAQ:PWAV) between February 1, 2011 and October 18, 2011, that Powerwave Technologies and certain of its officers and directors violated the Securities Exchange Act of 1934. Specifically, the plaintiff claims that between February 1, 2011 and October 18, 2011 defendants issued materially false and misleading statements regarding Powerwave Technologies’ business and prospects.
On November 8, 2011, Powerwave Technologies, Inc. reported that its three months Revenue fell from $156million for a three months period ending on Oct. 3, 2010 to $77million for the three months period ending on Oct. 2, 2011, further Powerwave Technologies, Inc. reported that its nine months Revenue fell from $415million for a nine months period ending on Oct. 3, 2010 to $384million for its nine months period ending on Oct. 2, 2011.
NASDAQ:PWAV shares fell since its 1:5split on Oct 31, 2011 to as low as $1.71 in January 2012.
Those who purchased shares of Powerwave Technologies, Inc. (NASDAQ:PWAV), have certain options and for certain NASDAQ:PWAV stockholders are strict and short deadlines running. Deadline: April 9, 2012. NASDAQ:PWAV stockholders should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Jacob Rosenfeld
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com