NEW YORK, Feb. 25, 2008 (PRIME NEWSWIRE) -- The Brualdi Law Firm P.C. announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of all persons who purchased or acquired the common shares of Orion Energy Systems, Inc. ("Orion" or the "Company") (Nasdaq:OESX) in the Initial Public Offering ("IPO") on December 18, 2007 or in the open market from December 18, 2007 through February 6, 2008, inclusive (the "Class Period").
No class has yet been certified in the above action. If you are a member of the proposed Class, you may, on or before April 11, 2008, ask the Court to allow you to serve as lead plaintiff for the proposed Class. To serve as a lead plaintiff, you must satisfy certain legal requirements. In making your decision, you should take into account that those with large financial losses resulting from the alleged federal securities law violations are given preference in being appointed lead plaintiff.
To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Tali Leger, Director of Shareholder Relations at The Brualdi Law Firm P.C., 29 Broadway, Suite 2400, New York, New York 10006, by telephone toll free at (877) 495-1187 or (212) 952-0602, by email to tleger@brualdilawfirm.com or visit our website at http://www.brualdilawfirm.com/
The complaint alleges that during the Class Period, the Company, and certain of its officers and/or directors and the underwriters who sponsored the IPO, violated federal securities laws by issuing a Registration Statement and Prospectus in connection with the IPO which was materially false or misleading due to omissions.