Ocean Power Technologies Inc (OPTT)

[spec machine]

Looks like it's the A choice from my previous post

That's pretty serious and I'm only speculating based on the wording re the investigation that it may have been one of the following

A- false or misleading public statement
B- insider leak

There was a surge when the announced Lockheed contract signing took place and a smaller recent surge in volume (May 30) on a rumor that LMT may have been looking to acquire OPTT. The rumor (found on message boards) followed an acquisition by LMT of another small company for its technology.

If it's A, gonna be bloodshed.
If B, it might work out well for current shareholders.

from today's news -

Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until August 12, 2014 to file lead plaintiff applications in a securities class action lawsuit against Ocean Power Technologies, Inc. (Nasdaq:OPTT), if they purchased the Company's securities during the period between January 14, 2014 and June 9, 2014, inclusive (the "Class Period"). This action is pending in the United States District Court for the District of New Jersey.
What You May Do

If you purchased shares of Ocean Power and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn ([e-mail]) or KSF Partner Melinda Nicholson ([e-mail]). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by August 12, 2014.

About the Lawsuit

Ocean Power and certain of its executives are charged with issuing a series of materially false and misleading statements during the Class Period, violating federal securities laws.

On June 10, 2014, Ocean Power disclosed that Charles F. Dunleavy was terminated as the Chief Executive Officer of Ocean Power on June 9, 2014 and that the board of directors appointed a Special Committee, composed of outside directors and the interim Chief Executive Officer, which will retain outside counsel to assist in an investigation into the agreement between Victorian Wave Partners and the Australian Renewable Energy Agency, and related public statements concerning the project.

On this news, the price of Ocean Power shares plummeted by 34%.

glad I had no position when it hit the fan and glad I didn't risk a bounce play

GLTA

spec