Ener1’s shares tumbled from more than $4 a share in January [2011], when Vice President Joe Biden visited EnerDel’s Greenfield battery plant, to less than a dollar in a matter of months. Shares traded at 20 cents each Wednesday morning, down 6 cents since Tuesday’s close.
The company has experienced a series of setbacks this year. Most recently, several lawsuits have been filed, claiming the company misled investors about its financial condition.
NASDAQ set to remove EnerDel parent from exchange
