Maxwell Technologies Inc.
Type of Case:
PLEASE NOTE: This case has settled. Please click on "Settled Cases" for information concerning the settlement.
Bottini & Bottini, Inc. is co-lead counsel for Plaintiffs in a shareholder derivative action brought to remedy the wrongdoing committed by Maxwell’s directors and officers, and by Maxwell’s outside auditor McGladrey, between April 28, 2011 and the present. During such time, Maxwell filed financial statements with the Securities and Exchange Commission which the Company only recently admitted were false and misleading, and will have to be restated.
On September 27, 2013, a Verified Consolidated Shareholder Derivative Complaint was filed against the eight members of Maxwell’s Board of Directors, two Maxwell officers, and McGladrey LLP, Maxwell’s former outside auditor.
The Complaint alleges claims against Maxwell’s Board of Directors and certain officers for breaches of fiduciary duties, abuse of control, gross mismanagement, unjust enrichment, and breach of duty of honest services. Furthermore, the Complaint asserts claims against McGladrey LLP for professional negligence and accounting malpractice, and aiding and abetting breaches of fiduciary duty.
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