LOS ANGELES--(BUSINESS WIRE)--
The Law Offices of Todd M. Garber announces that shareholders of Atlantic Power Corporation (“Atlantic Power” or the “Company”) (AT) have until May 7, 2013 to move for lead plaintiff status in the shareholder lawsuit filed in the United States District Court for the District of Massachusetts. The lawsuit was filed on behalf of a class (the “Class”) comprising all purchasers of Atlantic Power common stock between July 23, 2010 and March 4, 2013, inclusive (the “Class Period”).
Atlantic Power operates as a power generation and infrastructure company with a portfolio of assets in the United States and Canada. The Complaint alleges that throughout the Class Period the Company and its Chief Executive Officer made false and misleading statements or failed to disclose material adverse facts about the Company’s business, operations and prospects, including the sustainability of Atlantic Power’s stock dividend, which was regarded by the Company as one of its corporate objectives.
On February 28, 2013 the Company announced a reduction in the annual dividend level to Cdn$0.40 per share, or Cdn$0.03333 per share on a monthly basis. On this news, shares of the Company declined $2.85 per share, or 28.59%, to close on March 1, 2013 at $7.12 per share on unusually heavy volume, and further declined $1.21 per share, or 16.99%, to close on March 4, 2013 at $5.91 per share, also on unusually heavy volume.
If you are a member of the above-described Class, you may move the Court no later than May 7, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time. You may retain counsel of your choice or take no action and remain an absent Class member. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to firstname.lastname@example.org.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
- Company Legal & Law Matters
- United States District Court
Todd M. Garber, Attorney at Law
Los Angeles, California