updated 12/17/2010 12:47:17 PM ET 2010-12-17T17:47:17

NEW YORK, Dec. 17, 2010 (GLOBE NEWSWIRE) -- The Rosen Law Firm today announced that it has commenced an investigation into allegations that Alternate Energy Holdings, Inc. ("Alternate Energy") (Pink Sheets:AEHI) may have violated the federal securities laws by issuing false and misleading statements to investors about its business and its financial condition.

On December 16, 2010, the United States Securities & Exchange Commission ("SEC") filed a lawsuit against Alternate Energy, and its executives, charging them with misrepresenting the Company's business condition, manipulating the stock price, and concealing secret profits reaped by CEO Donald L. Gillispie and Senior Vice President Jennifer Ransom. The SEC has also suspended trading in Alternate Energy shares.

As a result of these allegations, the Rosen Law Firm is preparing a class action lawsuit on behalf of investors who suffered losses purchasing Alternate Energy stock.

You may access the website at http://www.rosenlegal.com to participate in the proposed class action.  

If you purchased Alternate Energy securities and would like further information concerning your legal rights or your ability to recover your investment losses, please contact Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com or visit the website at www.rosenlegal.com

The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and other complex shareholder litigation.

Attorney Advertising. Prior results do not guarantee a similar outcome.

CONTACT:  The Rosen Law Firm P.A.
          Laurence Rosen, Esq.
            lrosen@rosenlegal.com
          Phillip Kim, Esq.
            pkim@rosenlegal.com
          (212) 686-1060
          Weekends Tel: (917) 797-4425
          Toll Free: 1-866-767-3653
          Fax: (212) 202-3827
          www.rosenlegal.com
          275 Madison Avenue, 34th Floor
          New York, New York 10016

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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