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Rosen Law Firm Announces Investigation of Securities Claims Against Ballard Power Systems Inc.
Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of purchasers of the securities of Ballard Power Systems Inc. (NASDAQ:BLDP) resulting from allegations that Ballard may have issued materially misleading business information to the investing public.
On January 25, 2018, Spruce Point Capital Management published a report stating, among other things, that Ballard overstated the operations of its China-based partners Broad Ocean and Synergy JV. The report stated that, contrary to Ballards public statements, there are no demonstration lines operating in Guangdong and that no bus lines are in service in Sanshui or Yunfu. The report further stated that Ballard and local press releases indicate that [Broad Ocean customer] Foshan has produced 114 FCV buses...[but] a Foshan employee claimed that far fewer buses have been produced to date and only 11 are licensed. On this news, shares of Ballard fell $0.52 per share or over 13% from its previous closing price to close at $3.27 per share on January 25, 2018.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Ballard investors.
If you purchased shares of Ballard, please visit the firms website at www.rosenlegal.com/cases-1277.html or more information. You may also contact Phillip Kim or Daniel Sadeh of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or dsadeh@rosenlegal.com.
Follow us for updates on LinkedIn: www.linkedin.com/company/the-rosen-law-firm or on Twitter: twitter.com/rosen_firm.
www.4-traders.com/...-Ballard-Power-Systems-Inc-ndas-25873379/
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This assertion needs to be taken with a grain of salt because Spruce Point has a vested interest in the market pushing the stock lower. With that said, Ballard has been losing money for years, and even with growth in 2017, it hasn't proven that it can make a profit over the long term.
As a rule, I would be skeptical of a short-seller's story, but it's worth considering the financial risk Ballard presents before turning bullish on the stock. If growth opportunities don't develop further, the company could be in real trouble. That's the reason I'm staying out of (but not shorting) the stock today.
Quelle: https://www.fool.com/investing/2018/01/25/...shares-plunged-16-t.aspx
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