Siskinds LLP, Koskie Minsky LLP and the Law Office of Andrew Morganti announce filing of a proposed class action against Atlantic Power Corporation
LONDON, ON and TORONTO /CNW/ – Siskinds LLP, Koskie Minsky LLP and the Law Office of Andrew Morganti today announced the filing in the Ontario Superior Court of Justice of a proposed class action against Atlantic Power Corporation (TSX: “ATP” NYSE: “AT”), and certain of the company’s senior officers.
The proposed class includes all persons and entities who acquired the common shares or debentures of Atlantic Power Corporation from November 5, 2012 to February 28, 2013.
The action alleges, among other things that, during the relevant period, the defendants failed to disclose adverse information about the re-contracting progress of long-term power purchase agreements, failed to disclose the company’s declining profitability, misrepresented the sustainability of the company’s cash available for distribution and misrepresented the company’s financial condition and results of operations. Among other relief, the action claims $208.5 million in damages.Read More