| Company: | Satcon Technology Corp |
| Ticker Symbol: | SATC |
| Class Period: | Mar-4-10 to Jul-5-11 |
| Date Filed: | Jul-19-11 |
| Lead Plaintiff Deadline: | Sep-17-11 |
| Court: | District of Massachusetts |
| Allegations: | |
The complaint charges Satcon and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Satcon is a leading provider of utility-grade power conversion solutions for the renewable energy markets in the United States and internationally.
The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company' business practices and financial results. Specifically, defendants misrepresented and/or failed to disclose the following adverse facts: (a) that the Company was experiencing a decrease in sales of its inverter systems; (b) that the Company' European market was performing below internal expectations due to changes in government incentives for solar energy; (c) that the Company failed to properly account for its inventory; and (d) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its prospects.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
