Seems like they have a good argument, esp when the company itself claims it was in violation of purchasing contract:
From:
http://www.sec.gov/Archives/edgar/data/1399352/000147793214003509/hpev_s1.htm
"We are in breach of our agreements with certain investors for failure to timely file a registration statement with the SEC registering shares offered and sold to such investors.
In connection with the offer and sale of an aggregate of 11,588,612 shares and warrants to purchase an aggregate of 10,903,810 shares of common stock, the Company agreed to file a registration statement with the SEC including these shares once the Company sold an aggregate of $1 million shares. The Company sold $1 million shares in July 2013. In addition, our placement agents also have “piggyback” registration rights for shares underlying warrants issued to them. If an investor or placement agent decides to bring an action against the Company before this registration statement is deemed effective we may be faced with litigation and other costs and damages if unsuccessful in any such action."
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