Active Power (ACPW) disclosed on March 12, 2007 that it will restate its financials. Specifically, the Company decided it will restate its financials from 2001 to 2006. This announcement doesn’t come as a total surprise. On February 2, 2007, the Company disclosed that preliminary findings showed that it had backdated certain option grants and that it may restate certain financial statements. In addition, the Company disclosed that its Chairman had resigned.
It appears that investors who purchased ACPW between April 18, 2002 and February 1, 2007, are affected. We are investigating this matter and affected ACPW investors may wish to contact us to discuss their options.
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