Ballard Power Systems Inc
32 DAYS LEFT TO SEEK LEAD PLAINTIFF STATUS
|Company Name:||Ballard Power Systems Inc|
|Stock Symbol :||NASDAQ: BLDP|
|Class Period Start:||09/30/2016|
|Class Period End:||01/25/2018|
|Lead Plaintiff motion:||03/28/2018|
|Type of Case:||Securities Class Action|
|Court:||U.S. District Court for the Central District of California|
Thieler Law Corp advises investors with losses exceeding $100,000 of the March 28, 2018 lead plaintiff deadline in a class action lawsuit filed against Ballard Power Systems Inc (NASDAQ: BLDP) (“Ballard” or “the Company”). The suit is pending in the U.S. District Court for the Central District of California and investors, who purchased Ballard Power Systems Inc securities between September 30, 2016 and January 25, 2018, have until March 28, 2018 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.
If you purchased Ballard Power Systems Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing email@example.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.
The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that Ballard overstated the operations of its China-based partners Broad Ocean and Synergy; there are no demonstration lines operating in Guangdong and no bus lines are in service in Sanshui or Yunfu; Foshan has produced far fewer buses than Ballard has indicated, and only 11 are licensed; and as a result, Defendants’ public statements were materially false and misleading at all relevant times.
On January 25, 2018, a report by Spruce Point Capital Management revealed that Ballard overstated the operations of its China-based partners Broad Ocean and Synergy JV and said that conflicting to Ballard's public statements, "there are no demonstration lines operating in Guangdong and that no bus lines are in service in Sanshui or Yunfu." In addition, the report stated that "Ballard and local press releases indicate that [Broad Ocean customer] Foshan has produced 114 FCV buses...[but] a Foshan employee claimed that far fewer buses have been produced to date and only 11 are licensed."
On this news, NASDAQ: BLDP fell $0.52 per share or over 13% to close at $3.27 per share on January 25, 2018.
If you were negatively impacted by your investment in Ballard Power Systems Inc securities between September 30, 2016 and January 25, 2018 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.
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