BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of Global Power Equipment Group, Inc. (“Global Power” or the “Company”) (NYSE: GLPW) concerning the recent disclosure that the Company is delaying the filing of its quarterly report for the first quarter of 2015, and restating its financial results of the annual period ending December 31, 2014. The Law Offices of Howard G. Smith is preparing a complaint to recover damages on behalf of Global Power investors.
On May 6, 2015, after the market close, the Company reported the following, “On May 5, 2015, the Audit Committee of the Board of Directors of Global Power (the "Audit Committee"), in consultation with its outside advisors and management, concluded that the financial statements for the annual period ended December 31, 2014 should not be relied upon because of accounting errors affecting the fourth quarter of 2014 that were discovered during the first quarter 2015 financial review process. Those errors resulted in an understatement of the Company's cost of sales in the quarterly and annual periods ended December 31, 2014.” On this news, shares of Global Power have fallen in after-hours trading.
If you purchased shares of Global Power prior to May 7, 2015, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.
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