Faruqi & faruqi, llp is investigating broadwind energy, inc. on behalf of its shareholders

New york--(business wire)--faruqi & faruqi, llp, a leading new york securities firm, is investigating the board of directors and officers of broadwind energy, inc. (“broadwind”) (nasdaqgs: bwen). the investigation focuses on possible breaches of fiduciary duties by the board of directors and/or officers of the company in connection with allegations that the company may have issued materially inaccurate statements to investors which allowed the company’s largest shareholder to reap millions of dollars in benefits through a secondary public stock offering to the detriment of broadwind. specifically, the investigation concerns whether broadwind improperly delayed the recognition of the impairment of non-tangible assets and goodwill related to its rba, inc. (“rba”) business unit and gearing segments. on march 12, 2010, broadwind filed its form 10-k for the period ending december 31, 2009, which disclosed large write-downs in its rba and gearing segments. after this news, broadwind’s stock fell 21%, or 1.21 per share, to close at $4.47 per share. faruqi & faruqi, llp is a national law firm which represents investors and individuals in class action and derivative litigation. the firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, through all phases of litigation. the firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients. if you own common stock in broadwind and wish to obtain additional information, please visit us at http://www.faruqilaw.com/bwen or contact beth a. keller, esq. either via email at bkeller@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330. attorney advertising. (c) 2011 faruqi & faruqi, llp. the law firm responsible for this advertisement is faruqi & faruqi, llp (www.faruqilaw.com). prior results do not guarantee or predict a similar outcome with respect to any future matter. we are happy to discuss your particular case.
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