LOS ANGELES, CA / ACCESSWIRE / February 21, 2018 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Ballard Power Systems Inc. ("Ballard" or the "Company") (NASDAQ: BLDP) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between September 30, 2016 and January 25, 2018, inclusive (the "Class Period"), are encouraged to contact the firm before March 28, 2018, the lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the lawsuit, the Company failed to disclose that: (1) Ballard overstated the operations of its China-based partners Broad Ocean and Synergy; (2) there are no demonstration lines operating in Guangdong and no bus lines are in service in Sanshui or Yunfu; (3) Foshan has produced far fewer buses than Ballard has indicated, and only 11 are licensed; and (4) as a result, Defendants' public statements were materially false and misleading at all relevant times. When the truth was revealed to the investing public, shares of the Company dropped sharply.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
Sherin Mahdavian, Esq.
Schallfirm.com
SOURCE: The Schall Law Firm
