Ener1, Inc. Securities Fraud Lawsuit Investigation
Gilman Law LLP, a leading Naples, Florida, securities law firm, is now accepting claims for lawsuits on behalf of Ener1, Inc. shareholders. The firm is actively investigating shareholder claims that Ener1 and certain of its executive officers and/or directors committed violations of federal securities laws. The firm is currently offering free lawsuit evaluations to all Florida Ener1 investors, including those in the Naples, Orlando, Miami, Jacksonville and Tampa areas.
For over 30 years, Gilman Law has represented investors in all major aspects of securities fraud litigation, including stock manipulation, securities fraud, and shareholder rights violations. The firm’s Naples office is offering free legal consultations to investors from throughout Florida, including Naples, Orlando, Miami, Jacksonville, and Tampa. If you purchased or otherwise acquired shares of Ener1 (NasdaqGS: HEV ), during the period between January 10, 2011 and August 15, 2011, and either lost money on the transaction or still hold the shares, you must contact Gilman Law LLP as soon as possible in order to exercise your legal rights against Ener1.
Ener1 Class Action Lawsuit Allegations
Ener1 designs, develops and manufactures high-performance batteries and battery pack systems. In 2009 and 2010, Ener1 made separate investments in electric-vehicle manufacturer Think Global, AS and its majority owner, Think Holdings, AS. On June 22, 2011, the Company disclosed that a material charge was required under GAAP applicable to Ener1 related to the loans receivable of Think Holdings and accounts receivable of Think Global held by Ener1, based on the announcement by Think Global that, following an extended and ultimately unsuccessful search for long-term financing, it would be filing for bankruptcy proceedings in the Norwegian courts on June 22, 2011.
Ener1 further disclosed on August 15, 2011 that its financial statements for the year ended December 31, 2010 and for the quarterly period ended March 31, 2011 should no longer be relied upon and should be restated. The determination was made following an assessment of certain accounting matters related to the loans receivable owed to Ener1 by Think Holdings and accounts receivable owed to Ener1 by Think Global held by the Company, and the timing of the recognition of the impairment charge related to the Company’s investment in Think Holdings originally recorded during the quarter ended March 31, 2011.
Since then, Ener1 has been named in a class action lawsuit filed in United States District Court, Southern District of New York, alleging that the during the Class Period, the Defendants failed to disclose or made false/misleading statements that:
Think Global lacked adequate operating capital, and the ability to raise capital, to continue operations;
Ener1 failed to timely impair the value of its Think Holdings investments;
The outstanding loans receivable and accounts receivable due from Think Holdings and Think Global were uncollectible;
The Company’s financial statements were misstated and its financial results were not prepared in accordance with Generally Accepted Accounting Principles (“GAAP”);
The Company’s financial statements were materially false and misleading at all relevant times.
Legal Help for Ener1 Shareholders
Gilman Law has extensive experience representing both individual and institutional investors in securities class action suits, and has recovered over a billion dollars for its clients. We are ready to assist Florida investors who have sustained losses as a result of Ener1’s fraudulent practices. For a free evaluation of your case or to obtain additional information, please fill out the form on the left or CALL TOLL FREE (888) 252-0048.
Facebook
Twitter
RSS