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• the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2007, filed with the Securities and Exchange Commission on March 5, 2008; • the Company's Quarterly Report on Form 10-Q filed on May 7, 2008; and • the description of the Company's common stock, par value $0.001 per share, and our preferred share purchase rights, under ''Description of Capital Stock'' in the Company's Registration Statement on Form S-1 (File No. 333- 177527) filed with the Securities and Exchange Commission on November 5, 2004 pursuant to Section 12 of the Exchange Act, including all amendments and reports filed for the purpose of updating such description. 30. The statements contained in ¶ 29 were materially false and misleading when made because defendants failed to disclose or indicate the following: (1) that the Company had improperly accounted for certain exploration and development costs associated with projects that it had determined were not economically feasible; (2) that the Company's financial statements were not prepared in accordance with GAAP; (3) that the Company lacked adequate internal and financial controls; (4) that the Company's financial statements were materially false and misleading at all relevant times; and (5) that, as a result of the foregoing, the Company's Offering Materials were false and misleading at all relevant times. 31. On August 5, 2008, the Company issued a press release entitled "Ormat Technologies, Inc. Reports Second Quarter 2008 Results Q2 net income increased 42.3% to $12.2 million; Products Backlog Increased $144 million to $186 million." Therein, the Company stated, in relevant part: Electricity revenues for the second quarter increased by 11.6% to $61.8 million and product revenues decreased by 35.7% to $18.4 million. Total revenues for the second quarter were $80.2 million compared to $84.1 million for the second quarter of 2007, a decrease of 4.6%. For the second quarter, the Company reported net income of $12.2 million, or $0.28 per share of common stock (basic and diluted), as compared to net income of $8.5 million, or $0.22 per share of common stock (basic and diluted), for the second quarter of 2007. 10PDF Image | ORMAT TECHNOLOGIES Lawsuit
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