Raser Technologies, Inc Investors File Lawsuit Against Certain Directors And Officers

If you purchased shares of Raser Technologies, Inc) between May 11, 2009 and April 29, 2011, you have certain options and there are strict and short deadlines running. Deadline: Jan. 27, 2012. Raser Technologies, Inc stockholders should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Raser Technologies
Case Name: 
Raser Technologies Shareholder Class Action 11/29/2011
Case Status: 
Lawsuit Filed
Affected Securities
OTC: RZTIQ
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
11/29/2011
Class Period Begin: 
05/11/2009
Class Period End: 
04/29/2011
Court of Filing: 
U.S. District Court for the District of Delaware
Deadline To File for Lead: 
01/27/2012
Summary: 

San Diego, Nov. 29, 2011 (Shareholders Foundation) -- An investor in shares of Raser Technologies, Inc (RZTIQ.PK) filed a lawsuit in U.S. District Court for the District of Delaware against certain of Raser Technologies’ current and former directors and officers over alleged Violations of Federal Securities Laws.

Raser Technologies is purported to be an environmental energy technology company focused on geothermal power development and technology licensing.

According to the complaint the plaintiff alleges on behalf of purchasers of securities of Raser Technologies, Inc. (Other OTC: RZTIQ.PK) between May 11, 2009 and April 29, 2011, that defendants failed to disclose material adverse facts regarding Raser Technologies’ Thermo No. 1 geothermalplant.

Shares of Raser Technologies, Inc (now OTC: RZTIQ.PK) rose in January 2011 to $0.36 per share but fell on April 27, 2011 to $0.064 per share.

Then on April 29, 2011, Raser Technologies, Inc and its wholly-owned subsidiaries filed voluntary petitions for reorganization under Chapter 11 of Title 11 of the United States Code in the United States Bankruptcy Court for the District of Delaware.