TORONTO, March 19, 2013 /CNW/ - Merchant Law Group LLP launched a class
action today with the Ontario Superior Court of Justice, seeking to
recover hundreds of millions of dollars in damages on behalf of
Atlantic Power Corporation shareholders (as well as holders of Atlantic
Power Corporation's debt securities).
"Atlantic Power Corporation has experienced a dramatic recent loss in
share value. ATP shares have fallen from a 52-week high of C$15.12 to
trading today at below C$5.40. Canadians who own ATP shares have lost
hundreds of millions of dollars in share value as a result." said Evatt
Merchant, regarding the Canadian ATP litigation being handled by his
As stated in the litigation, Atlantic Power Corporation repeatedly
emphasized in statements to the market that its previous dividends
would be "sustainable into 2016 before considering any positive impact
from potential future acquisitions or organic growth opportunities".
Notwithstanding those previous statements, shareholders have recently
seen the dividend paid on their shares slashed by more than half.
The litigation launched today is the first shareholder class action
filed against Atlantic Power Corporation in Canada, and Atlantic Power
Corporation is also facing several major class actions in the United
For more information on the Atlantic Power Corporation class action,
please visit: https://www.merchantlaw.com/classactions/atlantic_power.php or call 888-567-7777.
Merchant Law Group LLP, a leading Canadian class action firm, has
offices in 12 cities across Canada, from Montreal to Victoria.
SOURCE: Merchant Law Group
For further information:
For Media inquiries, please contact Evatt Merchant, at 888-567-7777 for further comment
For Francophone inquiries, please contact our Montreal office, at 514-248-7777 or firstname.lastname@example.org