NASDAQ CM
CPST

Capstone Turbine Corporation

Shareholder Securities Fraud Litigation

Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Capstone Turbine Corporation (NASDAQ CM: CPST)

Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Central District of California on behalf of all persons or entities that purchased the common stock of Capstone Turbine Corporation (“Capstone” or the “Company”) (NASDAQ CM: CPST) between November 7, 2013 and November 5, 2015, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

If you purchased shares of Capstone during the Class Period, or purchased shares prior to the Class Period and still hold Capstone, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com.

The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects.  As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.

According to the Complaint, on October 1, 2015, Capstone released a press release disclosing that its preliminary second quarter earnings were “notably below management’s expectations and analysts’ consensus estimates as continued headwinds in the oil and gas market and a strong U.S. dollar delayed orders and shipments in the quarter.”  The Company further disclosed that it “received no significant payments from its Russian distributor, who until recently was one of [its] largest customers.”

Then, on November 5, 2015, after the market closed, Capstone disclosed its second quarter, 2015 results.  The Company disclosed a net loss of $7.9 million or $0.02 per share for the quarter.

On this news, shares in Capstone dropped over 9%, closing at $0.20 per share on November 6, 2015, on heavy trading volume.

If you wish to serve as lead plaintiff, you must move the Court no later than January 15, 2016.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

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