Faruqi & Faruqi, LLP’s national practice focuses on complex civil litigation. The firm practices in the areas of Securities, Merger & Transactional, Shareholder Derivative, Antitrust, Consumer Class Action, and Wage & Hour litigation.
Wednesday, May 13, 2015
Faruqi & Faruqi Alert: ForceField Energy Inc.
Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In ForceField Energy Inc. To Contact The Firm - FNRG
Faruqi & Faruqi, LLP, a leading national securities law firm, notifies investors in ForceField Energy Inc. (“ForceField” or the “Company”) (NASDAQ: FNRG) of the June 16, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against ForceField, certain executives and the Company’s investor relations firms.
A complaint has been filed in the Southern District of New York on behalf of all persons who purchased or otherwise acquired ForceField securities from September 16, 2013 through April 15, 2015 (the “Class Period”).
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, the Company made false and/or misleading statements and/or failed to disclose that (i) articles purportedly published by independent authors touting ForceField were actually paid promoters hired by the Company and (ii) members of ForceField’s management have a troubling history with fraudulent companies.
On April 15, 2015, an article was published by SeekingAlpha.com alleging that the Company was promoted by multiple paid promoters and that the management has close connections to past frauds.
Following this news, the price of the Company’s stock declined by $1.66 per share, or over 21%, to close at $6.05 on April 15, 2015.
If you invested in ForceField stock or options during the Class Period and would like to discuss your legal rights, you can contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding the Company’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.