FNRG INVESTOR ALERT: ForceField Energy, Inc. Securities Class Action Announced by Glancy Binkow & Goldberg LLP
April 30 2015 - 10:30AM
Business Wire
Glancy Binkow & Goldberg LLP announces that a class action
has been filed on behalf of investors of ForceField Energy, Inc.
(“ForceField” or the “Company”) (NASDAQ: FNRG) who purchased shares
from September 16, 2013, through April 15, 2015, inclusive (the
“Class Period”). The class action concerns the Company’s and its
officers’ possible violations of federal securities laws, and the
subsequent damage to ForceField investors.
Investors who purchased shares of ForceField during the Class
Period have until June 16, 2015, to file a lead plaintiff motion.
If you have information or would like to learn more about these
claims, or have any questions concerning this announcement, please
contact Lesley Portnoy, of Glancy Binkow & Goldberg LLP, 1925
Century Park East, Suite 2100, Los Angeles, California 90067 at
310-201-9150, Toll-Free at 888-773-9224, by email to
shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com. If you inquire by email please include
your mailing address, telephone number and number of shares
purchased.
ForceField designs, distributes, and licenses alternative energy
products and technologies in China and the United States. The
Company also distributes light emitting diode (LED) commercial
lighting products and fixtures; and chemicals used for the
production of polysilicon for use in solar cells.
The complaint alleges that the Company misled investors
regarding the following issues: that ForceField has engaged in
unethical and potentially illegal stock promotion to target retail
investors and pump up the value of the Company’s stock; that the
Company’s management “have close ties to past fraudulent companies
and activities”; and that the Company is nearing insolvency. Upon
publication of a report disclosing these issues, the Company’s
stock fell $1.66 per share or 22% to close on April 15, 2015, at
$6.05 per share. Then on April 20, 2015, a Bloomberg article noted
that ForceField Chairman Richard St-Julien “was arrested and had
resigned as chairman … [and] was charged with scheming to boost the
company’s share price using secret payments to conspirators through
a Belize-based firm.” On this news ForceField shares declined
sharply in value until trading was halted on April 20, 2015.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP, Los AngelesCasey Sadler,
310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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