CASES
HQ Sustainable Maritime Industries, Inc.
Class Period: May 11, 2009 to Apr 1, 2011
Lead Plaintiff Deadline: Jun 27, 2011 + Deadline passed
Summary of Case:
A securities class action has been filed against HQ Sustainable Maritime Industries, Inc. ("HQSM" or the "Company")on behalf of all who purchased the common stock of HQSM from May 11, 2009 to April 01, 2011. This case has been filed in the USDC - Washington (Western).
The complaint alleges that, throughout the Class Period, defendants failed to disclose material adverse facts about the Company's true financial condition, business and prospects. Specifically, the complaint alleges: (i) that a substantial portion of the Company's revenues were overstated; (ii) that HQS' financial statements were not fairly presented in conformity with U.S. Generally Accepted Accounting Principles and were materially false and misleading; (iii) that HQS was operating with material deficiencies in its system of internal control over its financial reporting; and (iv) that, based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company, its prospects and growth.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.