NEW YORK, April 21, 2015 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential wrongdoing at ForceField Energy Inc. ("ForceField" or the "Company") (NasdaqCM: FNRG).
The investigation focuses on allegations made by federal prosecutors in Brooklyn, New York, against Richard St. Julien ("St. Julien"), the former chairman of ForceField, who has been charged with conspiracy to commit securities fraud.
According to the criminal complaint, from approximately August 2012 to April 2015, St. Julien conspired with others to manipulate the price of ForceField stock through: (i) St. Julien's use of nominees to purchase and sell the Company stock on his behalf without disclosure thereof to investors and potential investors; (ii) the use of orchestrated trading of ForceField stock to create the appearance of genuine trading volume and interest in the stock; and (iii) the use of stock promoters and broker dealers who failed to disclose to potential investors that they were paid to promote the purchase of ForceField stock.
The investigation seeks to determine whether St. Julien manipulated the Company's stock price with the help of stock promoters, broker dealers and a dermatologist in Boulder, Colorado who purchased shares on St. Julien's behalf.
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If you currently own ForceField stock and would like to discuss your legal rights, please visit www.faruqilaw.com/FNRG. You can also contact us by calling Stuart Guber toll free at (215) 277-5770 or by sending an e-mail to [email protected] 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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