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Wed, February 15, 2012
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Shareholder Rights Law Firm Johnson & Weaver, LLP Investigates Powerwave Technologies, Inc. for Securities Fraud


Published on 2012-02-14 15:31:43 - Market Wire
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SAN DIEGO--([ ])--Shareholder Rights Law Firm Johnson & Weaver, LLP announces that it is investigating whether certain officers and directors of Powerwave Technologies, Inc. (NASDAQ: PWAV) breached their fiduciary duties and committed violations of United States securities laws.

Johnson & Weaver, LLPas investigation focuses on whether certain officers and directors of Powerwave issued false and misleading public statements about the companyas prospects and financial results. On October 18, 2011, however, Powerwave issued a press release announcing that its expected revenues for the fiscal third quarter would be less than half of what analysts had anticipated. After issuing this press release, Powerwave held a conference call during which certain officials admitted the company was performing poorly and burning through its cash reserves. The following day, October 19, 2011, Powerwaveas stock price dropped from $1.46 per share to $0.85 per share on unusually heavy trading volume.

Johnson & Weaver, LLP invites current Powerwave shareholders who are concerned about their legal rights and remedies to contact attorney Brett Weaver at (619) 230-0063 or [ brettw@johnsonandweaver.com ].

Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit [ http://www.johnsonandweaver.com ].

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