Holzer & Holzer, LLC announces that a class action lawsuit has been
filed in the United States District Court for the District of New Jersey
on behalf of investors who purchased Ocean Power Technologies, Inc.
(“Ocean Power” or the “Company”) (NYSE: OPTT) common stock between
January 14, 2014 and June 9, 2014. The complaint alleges that Ocean
Power issued misleading statements regarding an agreement between the
Australian Renewable Energy Agency and the Company’s subsidiary,
Victorian Wave Partners Pty Ltd. in connection with the Company’s plans
to develop and deploy certain PowerBuoys. On June 10, 2014, Ocean Power
announced that Charles F. Dunleavy, the Company’s chief executive
officer, had been terminated and its Board of Directors was initiating
an investigation into the agreement.
On July 14, 2014, Ocean Power revealed that their plan to deploy the
PowerBuoys “was no longer commercially viable” and, as a result, it was
terminating the agreement with the Australian Renewable Energy Agency.
The price of Ocean Power stock fell dramatically on the news.
If you purchased Ocean Energy common stock between January 14, 2014 and
July 14, 2014, particularly in connection with the Company’s April 3,
2014 stock offering, and are interested in your legal rights, you are
encouraged to contact Marshall P. Dees, Esq. via email at email@example.com,
or via toll-free telephone at (888) 508-6832. There is a deadline of
August 12, 2014 for interested investors to ask the court to be
appointed as lead plaintiff for the case.
Holzer & Holzer, LLC is an Atlanta, Georgia law firm that dedicates its
practice to vigorous representation of shareholders and investors in
litigation nationwide, including shareholder class action and derivative
litigation. More information about the firm is available through its
and upon request from the firm. Holzer & Holzer, LLC has paid for the
dissemination of this promotional communication, and Corey D. Holzer is
the attorney responsible for its content.
Holzer & Holzer, LLC
Marshall P. Dees, Esq., 888-508-6832
Source: Holzer & Holzer, LLC