Rosen Law Firm Representing Shareholders in Class Action Against Advanced Battery Technologies Reminds Investors of Important Lead Plaintiff Deadline -- ABAT

/ Source: GlobeNewswire

NEW YORK, April 15, 2011 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. reminds investors of the important May 31, 2011 lead plaintiff deadline in the securities action filed by the firm. If you purchased the common stock of Advanced Battery Technologies, Inc. (Nasdaq:ABAT) during the period from March 16, 2009 through March 29, 2011 (the "Class Period"),  you should contact the Rosen Law Firm for more information about the importance of serving as lead plaintiff. The lawsuit is seeking to recover damages for investors from violations of federal securities laws.

To join the Advanced Battery class action, visit the Rosen Law Firm's website at , or call Laurence Rosen, Esq. or Timothy Brown, Esq. toll-free, at 866-767-3653; you may also email lrosen@rosenlegal.com, or tbrown@rosenlegal.com for information on the class action.

The Complaint alleges that the Company made a number of misrepresentations in its public filings with the Securities Exchange Commission and in its press releases.  Namely, that: (1) the Company's misrepresented certain of its distribution arrangements; (2) that Advanced Battery paid $1.5 million to acquire another company that appears to be fake because its location and existence could not be verified; (3) that Advanced Battery paid $20 million to purchase a company, but failed to disclose the related party nature of the transaction; and (4) the Company misrepresented that it owned a Company subsidiary when it did not, or the Company failed to disclose that the Company entered into a related party transaction with the Company's Chairman and CEO which resulted in the owner of that subsidiary being the Chairman and CEO, and not Advanced Battery.

On March 30, 2011 an analyst firm called Variant View Research issued a detailed report revealing the adverse information to the market. When these details of the Company's financial condition came to light on March 30, 2011, the price of Advanced Battery's stock fell over 40%, damaging investors.

No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. You may choose to do nothing at this point and remain an absent class member.

If you wish to serve as lead plaintiff, you must move the Court no later than May 31, 2011. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Laurence Rosen, Esq. or Timothy Brown, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at, or lrosen@rosenlegal.com or tbrown@rosenlegal.com. You may also visit the firm's website at .

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

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

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