San Diego, CA -- (SBWIRE) -- 06/21/2017 -- An investor, who purchased shares of Sky Solar Holdings Ltd (ADR) (NASDAQ:SKYS), filed a lawsuit in New York over alleged violations of Federal Securities Laws by Sky Solar Holdings Ltd.

Investors who purchased shares of Sky Solar Holdings Ltd (ADR) (NASDAQ:SKYS) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

The plaintiff alleges on behalf of investors, who purchased or otherwise acquired the American Depositary Shares ("ADSs") of Sky Solar Holdings Ltd (ADR) (NASDAQ:SKYS) pursuant and/or traceable to Sky Solar's Registration Statement and Prospectus issued in connection with the Company's IPO completed on or about November 18, 2014 and/or who purchased or otherwise acquired the American Depositary Shares ("ADSs") of Sky Solar Holdings Ltd (ADR) (NASDAQ:SKYS)on the open market between November 14, 2014 and June 12, 2017,, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between November 14, 2014 and June 12, 2017, the defendants made false and/or misleading statements and/or failed to disclose that Sky Solar's Code of Business Conduct and Ethics, and the code's enforcement by the Company's Board of Directors, were inadequate to detect and/or deter misconduct by Sky Solar's officers and directors, that consequently, Sky Solar's founder Weili Su was involved in undisclosed misconduct during his tenure at the Company, and that as a result of the foregoing, Sky Solar's public statements were materially false and misleading at all relevant times.

On June 6, 2017, Sky Solar Holdings announced that Weili Su would "no longer serve as the Company's Chief Executive Officer, or as director, officer, manager, legal representative or in any other management position of the Company's subsidiaries or any other consolidated entities."

On June 13, 2017, Sky Solar Holdings Ltd announced that its Management Committee intends to recommend to the board to form a committee to investigate the conduct of its former Chief Executive Officer Mr. Weili Su.

Shares of Sky Solar Holdings Ltd (ADR) (NASDAQ:SKYS) declined to as low as $1.25 per share on June 16, 2017.

Those who purchased shares of Sky Solar Holdings Ltd (ADR) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com