ATLANTA, March 10, 2010 (GLOBE NEWSWIRE) -- Holzer Holzer & Fistel, LLC announces that a class action lawsuit has been filed in the United States District Court for the District of Nevada against Ormat Technologies, Inc ("Ormat" or the "Company") (NYSE:ORA) and certain of its officers. The complaint alleges, among other things, that Ormat engaged in improper accounting practices by failing to expense costs relating to exploration and development projects after the Company abandoned the projects.
Holzer Holzer & Fistel, LLC is currently investigating whether certain officers and directors of Ormat complied with the fiduciary duties they owed to the Company and its shareholders in connection with the conduct alleged in the class action lawsuit. If you have continuously owned Ormat common stock since at least May 2008 and are interested in learning more about your legal rights, you are encouraged to contact Holzer Holzer & Fistel, LLC and its attorneys Michael I. Fistel, Esq. or Marshall P. Dees, Esq. via email at mfistel@holzerlaw.com or mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832.
Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.