Active Power, Inc. Sued by Investor

SAN DIEGO and AUSTIN, Texas, Sept. 16, 2013

(Logo:  http://photos.prnewswire.com/prnh/20130103/MM36754LOGO)

Active Power Accused of Making False and Misleading Statements

According to the complaint, Active Power issued materially false and misleading statements about the company's success in expanding its business into the lucrative Chinese market.  Specifically, on April, 30, 2013, the company's Chief Executive Officer, Doug Milner, announced that Active Power had entered into a strategic distribution agreement with China's largest IT solutions provider, Digital China Information Service Company.  Further, Mr. Milner emphasized that collaborative efforts with Digital China were under way that would lead to product deployments by the end of 2013.  As a result, Active Power shares traded at artificially inflated prices during the Class Period.

Active Power Stock Drops on Retraction of Third Quarter Guidance

On September 5, 2013, according to the complaint, Active Power retracted its 2013 guidance based on disappointing results from the company's distribution relationship in China.  Moreover, the company also revealed that its April 30, 2013 announcement that it had entered into a partnership with Digital China was incorrect.  The agreement was with an unrelated entity, Qiyuan Network System Limited.  On this news, Active Power's stock prices fell $0.48, or nearly 14%, to close at $3.02 on September 6, 2013.  

If you invested in Active Power and would like to discuss your shareholder rights, please contact attorney Darnell R. Donahue at (800) 350-6003, ddonahue@robbinsarroyo.com, or via the shareholder information form on the firm's website.