Altair Nanotechnologies Shareholder Alert: Former SEC Attorney Willie Briscoe & Powers Taylor Investigate Possible Breaches o...
October 07 2014 - 11:43AM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the
securities litigation firm of Powers Taylor LLP announce that a
federal class action lawsuit has been filed against Altair
Nanotechnologies, Inc. (“Altair” or “Company”) (Other OTC: ALTI)
and several officers and directors for acts taken during the period
of May 15, 2013 to September 4, 2014 (the “Class Period”).
Based upon the allegations in the class action, the firms are
investigating additional legal claims against the officers and
Board of Directors of Altair. If you are an affected Altair
shareholder and want to learn more about the lawsuit or join the
action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214)
239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or
Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, or
via e-mail at shareholder@powerstaylor.com. There is no cost or fee
to you.
In the complaint, the defendants are alleged to have violated
certain provisions of the Securities Exchange Act of 1934.
Specifically, the complaint alleges, among other things, that
defendants misrepresented and/or failed to disclose that: a) Altair
was undergoing excessive executive management and accounting level
turnover in 2013 which resulted in a lack of segregation of duties
throughout the Company and caused a lack of controls to perform a
timely review of transaction at an appropriate level of precision;
b) Altair did not implement adequate procedures and controls in
order to 1) ensure timely filing in compliance with its financial
reporting requirements over the 2013 year-end financial close and
reporting process, 2) appropriately evaluate routine and
non-routine transactions, and as a result, did not detect the
material misstatements that were identified by its auditor during
its audit process, and 3) ensure accurate and timely communications
with its subsidiaries in China; and c) as a result of the above
Altair did not have sufficient procedures and controls to ensure
the completeness and accuracy of its consolidated financial
statements and related subsequent events.
The Briscoe Law Firm, PLLC is a full service business
litigation, commercial transaction, and public advocacy firm with
more than 20 years of experience in complex litigation and
transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles
a variety of complex business litigation matters, including claims
of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
The Briscoe Law Firm, PLLCWillie Briscoe,
214-239-4568WBriscoe@TheBriscoeLawFirm.comorPowers Taylor
LLPPatrick Powers, 877-728-9607shareholder@powerstaylor.com