Former United States Securities and Exchange Commission attorney Willie
Briscoe, founder of The
Briscoe Law Firm, PLLC, and the securities litigation firm of Powers
Taylor LLP announce that a federal class action lawsuit has been
filed against Ocean Power Technologies, Inc. ("Ocean Power" or
"Company") (NasdaqGM:OPTT) and several officers and directors for acts
taken during the period of January 14, 2014 to June 9, 2014 (the "Class
Based upon the allegations in the class action, the firms are
investigating additional legal claims against the officers and Board of
Directors of Ocean Power. If you are an affected Ocean Power shareholder
and want to learn more about the lawsuit or join the action, contact
Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via
email at WBriscoe@TheBriscoeLawFirm.com,
or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, or via
email at email@example.com.
There is no cost or fee to you.
In the complaint, the defendants are alleged to have violated certain
provisions of the Securities Exchange Act of 1934. Specifically, the
complaint alleges, among other things, that Defendants issued false and
misleading statements and/or failed to disclose that the Company may
have misstated the nature and/or circumstances of the agreement between
VWP and the Australian Renewable Energy Agency. As such, the statements
made by Defendants concerning the VWP project and the positive
statements about Ocean Power's business, operations and prospects were
materially false and misleading and/or lacked a reasonable basis.
Briscoe Law Firm, PLLC is a full service business litigation,
commercial transaction, and public advocacy firm with more than 20 years
of experience in complex litigation and transactional matters.
Taylor LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.
Source: Powers Taylor LLP