Science & Technology
Science and Technology
Science and Technology
Fri, August 6, 2010
Thu, August 5, 2010 Levi & Korsinsky, LLP Investigates Maxwell Technologies Shareholder Claims
NEW YORK--([ BUSINESS WIRE ])--Levi & Korsinsky is investigating potential claims against Maxwell Technologies, Inc. (aMaxwella or the aCompanya) (NASDAQ: MXWL) concerning potential violations of the Foreign Corrupt Practices Act (aFCPAa). Concerned shareholders should contact Joseph Levi at 877-363-5972 or by email at [ jlevi@zlk.com ] for more information.
"these payments had previously been recorded as commissions; however, a portion of those payments may actually have been rebated directly or indirectly to customers"
The investigation concerns allegations of potential violations of the FCPA by certain of the Companya™s executive officers and/or directors. In May 2010, Maxwell disclosed an internal investigation of payments made to the Company's former independent sales agent in China with respect to the sales of its high voltage capacitor products. The Company disclosed that athese payments had previously been recorded as commissions; however, a portion of those payments may actually have been rebated directly or indirectly to customersa in violation of the FCPA The Company further disclosed these alleged violations have prompted investigations by both the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ). Although the Company has stated that a possible resolution of these regulatory investigations may be forthcoming, such potential settlements are expected to cost the Company and its shareholders between $9.3 million and $20 million.
If you are a long term shareholder of Maxwell, please contact Joseph Levi either via email at [ jlevi@zlk.com ] or by telephone at 877-363-5972, or visit [ http://www.zlk.com/maxwell.html ].
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.
