Capstone Green Energy Corporation
A securities class action has been filed in the USDC – C.D.CA. against Capstone Green Energy Corporation (CGRN, CGRNQ) (“Capstone” or the “Company”), on behalf of a class consisting of all persons and entities that purchased or otherwise acquired Capstone securities between June 14, 2021 through September 22, 2023, both dates inclusive (the “Class Period”).
Capstone is a California based gas turbine manufacturer that specializes in microturbine power along with heating and cooling cogeneration systems.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors:
(1) that the Company had engaged in “bill and hold transactions” with customers;
(2) that these transactions were not reported pursuant to generally accepted accounting principles (“GAAP”);
(3) that, “as a result of apparent errors primarily related to revenue recognition associated with bill and hold transactions” the Company lacked a reasonable basis to report certain financial results and was reasonably likely to restate its financial statements; and
(4) that, as a result of the foregoing, Defendant’s positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis, thereby harming investors.
If you purchased Capstone securities during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.
If you suffered a loss on your investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.
An attorney will contact you at no cost to provide you information about joining the action and answer your questions. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.