Orion Energy Systems, Inc. Announces Retention of Skadden, Arps Law Firm as Defense Counsel in Purported Class Action Lawsuits

Orion Energy Systems, Inc. Announces Retention of Skadden, Arps Law Firm as Defense Counsel in Purported Class Action Lawsuits

April 11, 2008 at 12:00 AM EDT

MANITOWOC, Wis., Apr 11, 2008 (PrimeNewswire via COMTEX News Network) -- Orion Energy Systems, Inc. (Nasdaq:OESX) today announced that it has retained the law firm Skadden, Arps, Slate, Meagher & Flom LLP as defense counsel in purported securities class action lawsuits filed in the United States District Court for the Southern District of New York. The lawsuits allege, among other things, that Orion, certain of its officers, and members of its Board of Directors made misstatements and failed to disclose material information in the registration statement and prospectus for Orion's recently completed initial public offering. Orion believes that it has substantial legal and factual defenses in this action, which it intends to pursue vigorously. Orion will continue to focus on its competitive strengths and growth strategies to deliver what it believes are compelling energy savings and environmental benefits through innovative energy efficiency technologies for commercial and industrial customers throughout the United States.

About Orion Energy Systems, Inc.

Orion Energy Systems, Inc. (Nasdaq:OESX) is a leading power technology enterprise that designs, manufactures and implements energy management systems, consisting primarily of high-performance, energy efficient lighting systems and controls and related services, for commercial and industrial customers without compromising their quantity or quality of light.

Orion has deployed its energy management systems in 3,300 facilities across North America. Since 2001, Orion technology has displaced over 303 megawatts, saving customers $304 million, and reducing indirect CO2 emissions by 3.8 million tons.

For more information, visit www.oriones.com.

The Orion Energy Systems, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=4540

Safe Harbor Statement

Statements in this press release regarding management's future expectations, intentions or beliefs, including, without limitation, statements relating to the future growth and success of Orion's business and the outcome of any lawsuit, are "forward-looking statements" intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements may generally be identified as such because the context of such statements will include words such as "believe," "anticipate," "expect" or words of similar import. Similarly, statements that describe future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties including those risks and uncertainties referred to under the section "Risk Factors" in Orion's final prospectus, as filed with the Securities and Exchange Act on December 18, 2007, as well as other documents that may be filed by Orion from time to time with the Securities and Exchange Commission. As a result of such risks and uncertainties, Orion's actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and Orion undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

This news release was distributed by PrimeNewswire, www.primenewswire.com

SOURCE: Orion Energy Systems, Inc.

Orion Energy Systems, Inc.
          Media Contact
          Linda Diedrich, Director Corporate Communications
          920-482-1988
          ljd@oes1.com
 
          Market Street Partners
          Investor Relations Contact:
          JoAnn Horne
          415-445-3233
          joann@marketstreetpartners.com

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