The Rosen Law Firm Announces Investigation of Securities Claims Against Exide Technologies - XIDE
NEW YORK--(BUSINESS WIRE)-- The Rosen Law Firm announces that it is investigating potential securities claims against Exide Technologies (NAS: XIDE) resulting from allegations that Exide failed to disclose that its Los Angeles area facility was improperly emitting arsenic.
Exide operates a recycled lead acid battery smelting facility in Vernon, California. On March 22, 2013, the South Coast Air Quality Management District publicized a health risk assessment showing that Exide had exposed workers and residents living downwind of the Vernon facility to potentially cancerous levels of arsenic. On April 3, 2013, after close of business, an L.A. City Council committee instructed the Los Angeles City Attorney's office to explore legal action against Exide. The City Attorney was instructed to take action seeking to ensure that Exide addressed the City Council's concerns "immediately". On April 4, 2013, Debtwire reported that Exide had engaged Lazard and Akin Gump Strauss Hauer & Feld LLP to advise on a restructuring.
On April 4, 2013, Exide's stock price fell from $2.61 to $1.36, where it was halted by a circuit breaker, damaging investors.
The Rosen Law Firm is investigating a securities class action lawsuit on behalf of Exide investors. If you purchased Exide stock before April 4, 2013, please visit the website at http://rosenlegal.com for more information. You may also contact Jonathan Horne, Esq., or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at firstname.lastname@example.org or email@example.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
Jonathan Horne, Esq.
The Rosen Law Firm P.A.
275 Madison Avenue 34th Floor
New York, New York 10016
Tel: (212) 686-1060
Toll Free: 1-866-767-3653
Fax: (212) 202-3827
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