Scott+Scott, Attorneys at Law, LLP Files a Class Action Against ForceField Energy Inc. (FNRG) and Certain Officers
April 28 2015 - 11:07AM
Business Wire
On April 27, 2015, Scott+Scott, Attorneys at Law, LLP
(“Scott+Scott”), filed a class action lawsuit against ForceField
Energy Inc. (NASDAQ:FNRG) (“ForceField” or the “Company”) and
certain of its executives and directors on behalf of all purchasers
of ForceField securities from September 16, 2013 through April 15,
2015.
The class action, filed in the United States District Court –
Southern District of New York, alleges that ForceField made false
and/or misleading statements and/or failed to disclose that: (1)
articles issued by purportedly independent authors touting
ForceField were in fact paid promotions; and (2) members of
ForceField’s management have a history of association with stock
promotion companies.
ForceField is a designer, distributor and licensee of
alternative energy products and solutions. ForceField distributes
light emitting diode (“LED”) commercial lighting and fixtures.
On April 15, 2015, a Seeking Alpha article stated that
“ForceField Energy is a stock promotion pure and simple” and that
“[t]he company has been engaging paid promoters to issue a series
of upbeat reports on its prospects which has successfully powered
the stock higher.”
On April 20, 2015, a Bloomberg article reported that Richard
St-Julien (“St-Julien”), former chairman of ForceField, “was
arrested and had resigned as chairman.” St-Julien “was charged with
scheming to boost the company’s share price using secret payments
to conspirators through a Belize-based firm.”
ForceField stock was halted on April 20, 2015 and is currently
down nearly 60% from its close on April 14, 2015.
What You Can Do
If you wish to view the complaint, please click
here: Complaint. If you wish to discuss the ForceField
litigation, or have questions concerning this notice or your
rights, please contact Joseph V. Halloran of Scott+Scott at
jhalloran@scott-scott.com, (800) 404-7770, or (646) 582-0121, or
visit the Scott+Scott website for more
information: http://www.scott-scott.com.
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major
securities, antitrust, and employee retirement plan actions
throughout the United States. The firm represents pension funds,
foundations, individuals, and other entities worldwide.
Scott+Scott, Attorneys at Law, LLPJoseph V. Halloran,
800-404-7770646-582-0121jhalloran@scott-scott.com
ForceField Energy (CE) (USOTC:FNRG)
Historical Stock Chart
From Jun 2024 to Jul 2024
ForceField Energy (CE) (USOTC:FNRG)
Historical Stock Chart
From Jul 2023 to Jul 2024