INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Global Power Equipment Group Inc. (GLPW) To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Global Power Equipment Group Inc. (“Global Power” or the “Company”) (NYSE: GLPW).
The investigation focuses on whether the Company and its executives violated federal securities laws by understating the Company’s financial statements.
On May 6, 2015, Global Power disclosed in a Form 8-K that it will delay the filing of its Form 10-Q and will restate its financial statements for the annual period ending December 31, 2014 due to accounting errors that were discovered in the financial review process. The errors resulted in an understatement of the Company’s cost of sales in its 2014 quarterly and annual reports.
Following this news, the price of Global Power stock declined by $4.05, or over 30%, to close at $8.19 on May 7, 2015.
If you invested in Global Power stock or options between March 9, 2015 and May 6, 2015 and would like to discuss your legal rights, you can contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Global Power’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.