NEW YORK, April 9, 2012 /PRNewswire/ -- Levi &
Korsinsky announces that a class action lawsuit has been commenced
in the United States District Court for the Southern District of
New York on behalf of investors
who purchased New Energy Systems Group ("New Energy" or the
"Company") (AMEX: NEWN) stock between April
15, 2010 and November 14,
2011.
For more information, click here:
http://zlk.9nl.com/new-energy-systems-group-newn. There is no
cost or obligation to you.
The complaint alleges that during the Class Period, the Company
issued materially false and misleading statements in its filings
with the SEC. These statements included, among other things:
(a) that the Company had a loyal customer base when it did not; (b)
that the Company manufactured quality products when it did not; and
that (c) the demand for batteries would remain profitable.
The complaint further alleges that the Company failed to disclose
the adverse effect of counterfeit products on Company sales.
As a result of the aforementioned, the Company's battery business
had materially declined and the goodwill associated with the
Company's battery business had become worthless.
If you suffered a loss in New Energy you have until April 10, 2012 to request that the Court appoint
you as lead plaintiff. Your ability to share in any recovery
doesn't require that you serve as a lead plaintiff. To obtain
additional information, contact Joseph E.
Levi, Esq. either via email at jlevi@zlk.com or by telephone
at (877) 363-5972, or visit
http://zlk.9nl.com/new-energy-systems-group-newn.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. Attorney advertising. Prior results do not guarantee
similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP