NEW YORK, June 08, 2015 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in ForceField Energy, Inc. (“ForceField” or the “Company”) (Nasdaq:FNRG) of the upcoming June 16, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against ForceField and certain chief officers. A complaint against the Company has been filed in the Southern District of New York.
The complaint focuses on whether the Company and its executives violated federal securities laws by failing to disclose that ForceField had misled investors by touting paid promotion articles on the Company and its financial position as independent research. The complaint also charges that certain Company executives reviewed and possessed full knowledge of the articles’ lack of veracity before approving their publication.
Since the truth was revealed by a Fortune article on March 20, 2014, the Company has faced multiple difficulties including the resignation and arrest of the Company’s founder and majority shareholder as Executive Chairman of the Board on April 17, 2015.
ForceField’s price per share has lost over 99 percent of its value, having dropped from its closing price of $7.71 on April 14, 2015, to trading at $0.05 on June 8.
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Take Action
If you invested in ForceField stock or options between September 16, 2013 and April 15, 2015 and would like to discuss your legal rights, visit www.faruqilaw.com/FNRG2. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding ForceField’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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