News Column

Investor Alert: Class Action Filed on Behalf of Investors in Ocean Power Tech; Holzer & Holzer Investigating Expanded Class Period

July 16, 2014

ATLANTA--(BUSINESS WIRE)-- 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, 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 website, 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 (toll-free)

Source: Holzer & Holzer, LLC

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Business Wire

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters