NEW YORK, Jan. 18, 2016 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential misconduct at 6D Global Technologies, Inc. ("6D Global" or the "Company") (SIXD).
The investigation focuses on whether the Company's Board of Directors and its officers committed mismanagement and breached their fiduciary duties. On September 8, 2015, the Department of Justice ("DOJ") indicted Benjamin Wei, the founder and principle of New York Global Group ("NYGG"), for securities fraud. On September 10, 2015, the DOJ arrested Wei and the Securities and Exchange Commission filed a civil action against Wei and NYGG for their part in the fraudulent scheme to obtain and profit from undisclosed, controlling ownership interests in several U.S. companies created through "reverse Chinese mergers," including 6D Global, that were secretly controlled by Wei and NYGG.
As a result, on September 10, 2015, Nasdaq halted trading in the Company's stock and on November 25, 2015, the Company filed a current report on Form 8-K announcing that on November 20, 2015, the Company received a letter from The Nasdaq Listing Qualifications Staff stating that Nasdaq has determined that the Company's common stock would be subject to suspension and then delisting from Nasdaq. Additionally as a result of the foregoing, a securities fraud action and a private action brought by a 6D Global institutional investor have been filed against the Company and certain of its officers and directors.
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If you currently own 6D Global stock and would like to discuss your legal rights, please visit www.faruqilaw.com/SIXD. You can also contact us by calling Stuart Guber toll free at (215) 277-5770 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding 6D Global's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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