A Deadline is coming up on June 16, 2015 in the lawsuit for investors in ForceField Energy Inc (OTCMKTS:FNRG, formerly NASDAQ:FNRG).
San Diego, CA -- (SBWIRE) -- 06/09/2015 -- A deadline is coming up on June 16, 2015 in the lawsuit filed for investors of ForceField Energy Inc (OTCMKTS:FNRG, FORMERLY NASDAQ:FNRG over alleged securities laws violations by ForceField Energy.
Investors who purchased shares of ForceField Energy Inc (OTCMKTS:FNRG, FORMERLY NASDAQ:FNRG) have certain options and there are strict and short deadlines running. Deadline: June 16, 2015. FNRG stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the District Court for the Southern District of New York the plaintiff alleges on behalf of purchasers of ForceField Energy Inc (OTCMKTS:FNRG, formerly NASDAQ:FNRG) common shares between September 16, 2013 and April 15, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that Defendants allegedly falsely stated and/or failed to disclose that articles issued by independent authors touting ForceField Energy Inc were in fact paid promoters hired by the Company, that ForceField Energy's management reviewed these so-called independent articles before publication, and that members of ForceField Energy's management have troubling histories with fraudulent companies.
On April 15, 2015, a report was publish which alleged that "ForceField was a paid Dream Team promotion which was written about by both Tom Meyer (multiple aliases including Wonderful Wizard and others) and John Mylant. These were the two main Dream Team writers. Their articles have since been removed from Seeking Alpha, but the original references can still be found in various places. In addition, ForceField is listed here among the other Dream Team clients on the Investors Hub page for Mission IR. Mission IR was the Dream Team subsidiary responsible for handling the paid articles."
On April 20, 2015, an article reported that Richard St-Julien, former chairman of ForceField Energy Inc was arrested and had resigned as chairman. According to the article Richard St-Julien was reportedly charged with scheming to boost ForceField Energy's share price using secret payments to conspirators through a Belize-based firm.
ForceField's stock was halted on April 20, 2015 and is currently traded OTC at $0.05 per share.
Those who purchased shares of ForceField Energy Inc (OTCMKTS:FNRG, formerly NASDAQ:FNRG) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego